CRESTWOOD EQUITY PARTNERS LP Reports Strong Earnings Results for FY2023 Q2
August 8, 2023
☀️Earnings Overview
On August 1 2023, CRESTWOOD EQUITY PARTNERS LP ($NYSE:CEQP) announced their FY2023 Q2 earnings results, which ended June 30 2023. Total revenue for the quarter had decreased by 29.5% year-over-year, amounting to USD 1021.2 million. Net income for the period was reported at USD 141.6 million, compared to the USD 29.1 million earned in FY2022 Q2.
Share Price
The company’s stock opened at $29.0 and closed at $27.5, a 5.6% drop from the last closing price of 29.1. Despite the slight decrease in stock performance, the quarterly earnings report showed impressive numbers across the board. The quarterly report highlighted successful cost-cutting measures as well as strategic investments in new product lines, which both helped drive increases in both gross and net income. These strong financial results have been attributed to Crestwood Equity Partners LP’s commitment to enhancing shareholder value.
Despite the market volatility, the company has managed to consistently deliver strong performance quarter after quarter. The earnings report represents further evidence of their ability to effectively manage their operations and resources to maximize returns for shareholders. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for CEQP. More…
| Total Revenues | Net Income | Net Margin |
| 5.25k | 103.1 | 5.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for CEQP. More…
| Operations | Investing | Financing |
| 462.6 | -391.1 | -53.9 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for CEQP. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6.39k | 4.1k | 17.61 |
Key Ratios Snapshot
Some of the financial key ratios for CEQP are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 24.2% | 21.1% | 8.0% |
| FCF Margin | ROE | ROA |
| 3.7% | 14.1% | 4.1% |
Analysis
GoodWhale conducted an analysis of CRESTWOOD EQUITY PARTNERS LP’s fundamentals and based on our Star Chart, the company is classified as a ‘cheetah’, indicating that it achieved high revenue or earnings growth but is considered less stable due to lower profitability. We believe that this would interest investors looking for potential capital gains, as the cheetah company has the potential to experience rapid growth. CRESTWOOD EQUITY PARTNERS LP also has an intermediate health score of 6/10, suggesting that it might be able to pay off debt and fund future operations with relative ease. However, investors should note that the company is strong in terms of growth, medium in dividend, profitability and weak in asset. This means that a thorough analysis of the company’s financial position should be conducted before investing. More…
Peers
Crestwood Equity Partners LP, Kinder Morgan Inc, Oasis Petroleum Inc, and Enterprise Products Partners LP are all energy companies that operate in the United States. All four companies are engaged in the transportation, storage, and distribution of natural gas and natural gas liquids. Kinder Morgan Inc is a publicly traded company that is headquartered in Denver, Colorado. Oasis Petroleum Inc is a publicly traded company that is headquartered in Austin, Texas. Enterprise Products Partners LP is a publicly traded partnership that is headquartered in Houston, Texas.
– Kinder Morgan Inc ($NYSE:KMI)
Kinder Morgan Inc is a North American energy infrastructure company. It owns or operates pipelines and terminal facilities for natural gas, crude oil, refined petroleum products, and carbon dioxide (CO2). The company also owns and operates liquefied natural gas (LNG) facilities. Kinder Morgan Inc has a market cap of 40.84B as of 2022 and a Return on Equity of 7.96%. The company is involved in the transportation, storage, and distribution of energy products.
– Oasis Petroleum Inc ($NASDAQ:OAS)
Enterprise Products Partners LP is a publicly traded partnership that owns and operates energy and petrochemical infrastructure assets in the United States. The company has a market capitalization of $54.28 billion as of 2022 and a return on equity of 15.44%. Enterprise Products Partners LP is engaged in the business of transporting, storing, processing and marketing natural gas, crude oil, refined products, NGLs, petrochemicals and other hydrocarbon-based products. The company owns and operates approximately 49,000 miles of pipelines and 260 terminals in the United States.
Summary
CRESTWOOD EQUITY PARTNERS LP recently reported a decrease in total revenue for their second quarter of FY2023, dropping from USD 1021.2 million to USD 29.1 million, a change of 29.5%. Net income for the quarter also decreased, from USD 141.6 million to USD 29.1 million. Subsequently, stock prices moved down on the same day of the earnings report.
Investors should take this into consideration when assessing the company’s performance, as it may be an indication of future trends. Further research, such as understanding the company’s strategy and financial position, can help investors determine if they should invest in CRESTWOOD EQUITY PARTNERS LP.
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