EQT Midstream Partners, EQT GP Holdings Report Mixed Q3 Financial Results

EQT Midstream Partners, LP (EQM) and EQT GP Holdings (EQGP) on Thursday both reported Q3 financial results that topped the Street estimates on earnings, but missed on revenues.

EQT Midstream Partners reported Q3 net profit of $1.23 per share, up from $1.12 per share in the prior year period and higher than the $1.17 per share Street estimate provided by Capital IQ.

Operating revenues were $170.8 million, up from $148.8 million reported for the same period last year but fell short of the $175.8 million Street estimate.

The company expects net income to range from $130 million to $135 million for Q4, and from $510 million to $515 million for full year 2016. The company previously issued full year net income guidance of $505 million to $515 million.

EQT GP Holdings also reported Q3 financial results on Thursday with net profit of $0.20 per share, up from $0.14 per share in the prior year period and higher than the $0.16 per share Street estimate.

EQM shares were marginally higher in recent morning trade, while EQGP shares were 1% higher.

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