CONE Midstream Q4 Profit Tops View; Sees Higher EBITDA, DCF In FY16

(RTTNews) - CONE Midstream Partners LP (CNNX) reported Wednesday that its fourth-quarter attributable net income climbed to $22.5 million from last year's $15.3 million. Earnings per Limited Partner Unit were $0.38, higher than $0.26 last year.

On average, 10 analysts polled by Thomson Reuters expected earnings of $0.33 per share. Analysts' estimates typically exclude special items.

Adjusted EBITDA grew to $25.2 million from $16.6 million a yea ago. Distributable cash flow was $22.4 million, as compared to $14.8 million a year earlier.

Total revenue increased to $58.79 million from last year's $42.49 million. Analysts were looking for revenues of $57.28 million.

Average daily throughput volumes grew 760 billion Btu per day or Bbtu/d from 545 Bbtu/d in 2014.

Looking ahead, for full year 2016, adjusted EBITDA attributable to the Partnership is expected to be in the range of $93 million to $103 million and distributable Cash Flow attributable to the Partnership is expected to be in the range of $79 million $89 million.

In fiscal 2015, adjusted EBITDA was $80.3 million and distributable cash flow was $70.9 million.