EQT Midstream Partners Q2 Profit Rises

(RTTNews) - EQT Midstream Partners LP (EQM) reported that its second-quarter net income increased to $17.89 million from $12.01 million in the year ago quarter. Net income per limited partner unit for the latest-quarter was $0.50.

Total operating revenues for the quarter grew to $44.84 million from $29.66 million last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.50 per share and revenues of $42.44 million for the quarter. Analysts' estimates typically exclude special items.

The Partnership announced a quarterly cash distribution of $0.40 per unit for the second quarter of 2013. The distribution will be paid on August 14, 2013 to all unitholders of record at the close of business on August 5, 2013.

The Partnership increased its 2013 forecast for adjusted EBITDA and distributable cash flow, which includes the impact of the Sunrise acquisition. Adjusted EBITDA is expected to be between $113 and $118 million and distributable cash flow is expected to be between $95 and $100 million. The Partnership forecasts third quarter adjusted EBITDA to be approximately $30 - $33 million.