- Crestwood Equity press release ( NYSE: CEQP ): Q4 GAAP EPS of $0.26 beats by $0.01 .
- Revenue of $1.4B (+1.4% Y/Y) misses by $100M .
- CEO comment: “In 2023, our Adjusted EBITDA guidance range of $780 million to $860 million is pro forma for the sale of Tres Palacios and represents 8% year-over-year growth at the midpoint. Our 2023 growth capital program is estimated to be $135 million to $155 million, a reduction of more than 20% from last year, with approximately 90% focused on our Williston and Delaware Basin operations. Based on current producer plans, we expect to connect approximately 260 wells in 2023, an increase of approximately 15% year-over-year. Overall, our financial strategy in 2023 remains focused on operational execution, investments in high returning system expansions, increasing volumes, growing free cash flow, and reducing our outstanding debt.”
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Crestwood Equity GAAP EPS of $0.26 beats by $0.01, revenue of $1.4B misses by $100M