RTLR - Midstream 2020 EBITDA Guidance Updates Highlight Stability
Moving into the late stages of 1Q20 earnings season for midstream, financial guidance updates have varied, but the overall outlook for midstream has been much better than other energy sectors, which have seen analysts' forward EBITDA estimates for 2020 and 2021 nearly halved (read more). Midstream 2020 guidance revisions have not been nearly as severe as one might suspect based on equity price performance1 and the ~70% decline in oil prices year-to-date through April 30. While some companies have announced double-digit percentage revisions to prior guidance, others have reaffirmed numbers provided before