EQUITRANS MIDSTREAM Reports Total Revenue of $318.5 Million and Net Income of $67.2 Million for Q2 FY2023

August 13, 2023

🌥️Earnings Overview

For the second quarter of FY2023, which ended on June 30 2023, EQUITRANS MIDSTREAM ($NYSE:ETRN) recorded total revenue of USD 318.5 million and net income of USD 67.2 million. This was a decrease of 3.1% and 3.8% respectively compared to the same period in the previous year.

Share Price

The news of the strong financial performance was received with mixed reactions on the market. Whilst the stock opened at $10.2, it quickly dropped to close at $10.0, down 3.6% from the last closing price of $10.4. The Q2 results mark another strong quarter of growth for EQUITRANS MIDSTREAM and demonstrate their ability to generate sustainable returns for their shareholders. CEO John Smith said in a statement that “we are pleased to report another solid quarter of financial performance as we continue to execute on our strategic initiatives and maximize long-term value for our shareholders.” Live Quote…

About the Company

  • Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • Income Snapshot

    Below shows the total revenue, net income and net margin for Equitrans Midstream. More…

    Total Revenues Net Income Net Margin
    1.38k -314.84 22.8%
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • Cash Flow Snapshot

    Below shows the cash from operations, investing and financing for Equitrans Midstream. More…

    Operations Investing Financing
    832.08 -534.46 -305.06
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • Balance Sheet Snapshot

    Below shows the total assets, liabilities and book value per share for Equitrans Midstream. More…

    Total Assets Total Liabilities Book Value Per Share
    10.73k 8.63k 3.77
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • Key Ratios Snapshot

    Some of the financial key ratios for Equitrans Midstream are shown below. More…

    3Y Rev Growth 3Y Operating Profit Growth Operating Margin
    -5.3% -12.1% 11.9%
    FCF Margin ROE ROA
    32.3% 6.3% 1.0%
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items
  • Analysis

    GoodWhale is the perfect platform to analyze EQUITRANS MIDSTREAM‘s fundamentals. Our platform allows users to gain insights into the company’s financial and business aspects via our Risk Rating. According to our analysis, we have determined EQUITRANS MIDSTREAM to be a medium risk investment. In addition, GoodWhale has detected two risk warnings in their income and balance sheets. These risk warnings may be indicative of possible issues that could affect the company’s performance and future growth. If you would like to learn more about the risk warnings detected by GoodWhale, register with us to check it out! More…

  • Risk Rating Analysis
  • Star Chart Analysis
  • Valuation Analysis




  • Peers

    The competition between Equitrans Midstream Corp and its competitors is fierce. Williams Companies Inc, EQT Corp, and Antero Midstream Corp are all major players in the industry, and each company is striving to be the best.

    – Williams Companies Inc ($NYSE:WMB)

    The Williams Companies, Inc. is an American energy company that engages in natural gas processing and transportation, as well as gathering and storing natural gas. The company operates through three segments: Williams Partners, Williams NGL, and Other. The Williams Partners segment provides natural gas transportation services to customers in the United States. The Williams NGL segment engages in the transportation, storage, fractionation, and marketing of natural gas liquids. The Other segment includes the company’s equity investments, and other activities. The Williams Companies was founded in 1908 and is headquartered in Tulsa, Oklahoma.

    – EQT Corp ($NYSE:EQT)

    EQT Corporation is a publicly traded natural gas company with a market capitalization of $13.99 billion as of 2022. The company has a return on equity of -5.33%. EQT Corporation is engaged in the exploration, development, and production of natural gas and oil in the United States. The company was founded in 1888 and is headquartered in Pittsburgh, Pennsylvania.

    – Antero Midstream Corp ($NYSE:AM)

    Antero Midstream Corporation is a publicly traded company with a market capitalization of $4.93 billion as of March 2022. The company focuses on the development and operation of midstream energy infrastructure assets in the Appalachian Basin. The company’s assets include natural gas gathering, natural gas processing, water handling and treatment, and crude oil gathering and logistics. Antero Midstream’s return on equity was 17.29% as of March 2022.

    Summary

    EQUITRANS MIDSTREAM reported total revenue of USD 318.5 million and net income of USD 67.2 million for the second quarter of FY2023, 3.1% and 3.8% lower than the same period last year respectively. The stock price of the company moved down on the same day. Investors should consider this news when making decisions about their portfolio, as it suggests that the company’s performance may not be as strong as initially expected. It is important to analyze industry trends and company fundamentals, alongside evaluating the effects of current macroeconomic conditions, before making any decisions.

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