CONE Midstream Q4 Profit Up, Meets Estimates; Revenues Miss

(RTTNews) - CONE Midstream Partners LP (CNNX) reported Thursday that its fourth-quarter attributable net income was $24.85 million, as compared to $22.47 million last year. Net Income per limited partner unit was $0.38, same as last year.

On average, 9 analysts polled by Thomson Reuters expected earnings of $0.38 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue for the quarter declined to $57.83 million from $58.79 million last year. Analysts were looking for $62.49 million revenues.

Looking ahead, for fiscal 2017, the company expects adjusted EBITDA attributable to the Partnership to be in the range of $128 to $138 million and full year distributable cash flow attributable to the Partnership to be in the range of $105 to $115 million.

Management currently anticipates that 2017 capital expenditures attributable to the Partnership will be in the range of $65 to $75 million, of which approximately $17 to $18 million will be for maintenance capital.