CONE Midstream Partners Q1 Profit Rises

(RTTNews) - CONE Midstream Partners LP (CNNX)reported that its Limited partner interest in net income for the first-quarter rose to $28.94 million or $0.45 per unit from $24.29 million or $0.42 per unit last year.

Total Revenue for the quarter declined to $58.96 million from $62.25 million last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.42 per share and revenues of $60.69 million. Analysts' estimates typically exclude special items.

Based on current expectations, the company confirmed the Partnership's previously announced 2017 financial guidance, indicating that full year 2017 results are currently projected to be at the top end of the previously announced ranges. It also confirmed that, based on currently available information, it does not expect CONSOL's recently announced changes to its drilling plans and Noble Energy's recently announced sale of its Appalachian acreage to have a material impact on the Partnership's operating results for 2018.