Crestwood Midstream Partners Earnings: Here’s Why Investors are Buying Shares Now

Crestwood Midstream Partners, L (NYSE:CMLP) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 0.43%.

Crestwood Midstream Partners, L Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased to $-0.01 in the quarter versus EPS of $0.09 in the year-earlier quarter.

Revenue: Rose 47.51% to $71.1 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Crestwood Midstream Partners, L reported adjusted EPS loss of $0.01 per share. By that measure, the company missed the mean analyst estimate of $0.1. It missed the average revenue estimate of $76.86 million.

Quoting Management: “We are pleased to report another quarter of solid performance,” stated Robert G. Phillips, Chairman, President and Chief Executive Officer of Crestwood’s general partner. “As expected, our Marcellus assets continued to drive the increase in our gathering volumes and offset natural production declines in the Barnett segment. We continue to focus our growth capital spending on pipeline expansions and compression additions in the Marcellus region to keep up with Antero Resources’ aggressive development program in the area.”

Key Stats (on next page)…

Revenue decreased 1.82% from $72.42 million in the previous quarter. EPS decreased to $-0.01 in the quarter versus EPS of $0.09 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.14 and has not changed. For the current year, the average estimate has moved down from a profit of $0.53 to a profit of $0.45 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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