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Compared to Estimates, Crestwood Equity Partners LP (CEQP) Q2 Earnings: A Look at Key Metrics

Zacks Equity Research
·2-min read

Crestwood Equity Partners LP (CEQP) reported $1.02 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 29.5%. EPS of $1.16 for the same period compares to $0.14 a year ago.

The reported revenue represents a surprise of -14.49% over the Zacks Consensus Estimate of $1.19 billion. With the consensus EPS estimate being $0.26, the EPS surprise was +346.15%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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Here is how Crestwood Equity Partners LP performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • EBITDA- Storage and Logistics: $142 million compared to the $21.24 million average estimate based on two analysts.

  • EBITDA- Gathering and Processing South: $35.20 million versus $30.02 million estimated by two analysts on average.

  • EBITDA- Gathering and Processing North: $136.70 million versus $129.91 million estimated by two analysts on average.

  • EBITDA- Corporate: -$24.90 million versus the two-analyst average estimate of -$25.05 million.

View all Key Company Metrics for Crestwood Equity Partners LP here>>>

Shares of Crestwood Equity Partners LP have returned +8.7% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Crestwood Equity Partners LP (CEQP) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research