CNX Midstream Partners LP Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Twelve Months Ended December 31, 2017; Provides Earnings Guidance for the Year 2018
For the twelve months, the company reported total revenue of $233,848,000 compared to $239,211,000 a year ago. Net income was $134,062,000 compared to $130,122,000 a year ago. Net income attributable to general and limited partner ownership interest in the company was $114,993,000 compared to $96,486,000 a year ago. Net income per limited partner unit - basic and diluted was $1.72 compared to $1.58 per diluted unit a year ago. Net cash provided by operating activities was $155,550,000 compared to $160,089,000 a year ago. Capital expenditures were $48,366,000 compared to $50,660,000 a year ago. EBITDA was $161,314,000 compared to $153,122,000 a year ago. Adjusted EBITDA was $166,404,000 compared to $163,980,000 a year ago. Adjusted EBITDA attributable to general and limited partner ownership interest in the company was $136,076,000 compared to $110,547,000 a year ago.
The company provided earnings guidance for the year 2018. For the year, the company expects net income of $142 million, depreciation expense of $23 million, interest expense of $6 million, EBITDA of $171 million, adjusted EBITDA of $172 million, adjusted EBITDA attributable to general and limited partner ownership interest in the company of $138 million, maintenance capital expenditures, net of reimbursements of $13 million and distributable cash flow of $119 million.