ETRN - Q2 Earnings Review: Politics (E&P) Religion And More
The macro challenges in the quarter, an upcoming election, a strategy shift from producers, and increased discussion of renewables made for an eventful 2Q earnings season across energy. Today's note discusses some of the key takeaways from earnings season and, particularly, the implications for midstream.
Results for 2Q and outlooks were mixed; companies continue to tighten belts on growth spending
Midstream results have been somewhat of a mixed bag relative to analysts' expectations. Some companies reaffirmed financial guidance or narrowed their range of expectations, others cut guidance as initial outlooks proved overly optimistic, and some