Access Midstream Partners Earnings: Here’s Why Investors are Happy Now
Access Midstream Partners LP (NYSE:ACMP) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.35%.
Access Midstream Partners LP Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 58.82% to $0.14 in the quarter versus EPS of $0.34 in the year-earlier quarter.
Revenue: Rose 53.16% to $236.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS income of $0.14 per share. By that measure, the company missed the mean analyst estimate of $0.34. It beat the average revenue estimate of $224.79 million.
Quoting Management: J. Mike Stice, Access Midstream Partners’ Chief Executive Officer, commented, “I’m pleased to report another quarter of strong financial results. Our ability to execute on our operational opportunities allows us to continue to report the solid financial results our investors have come to expect. Highlights in the first quarter included record dry gas volumes in the Marcellus Shale and significant progress in the liquids rich areas of the Eagle Ford, Marcellus, Niobrara and Utica Shales. Efficient execution of our capital program is a critical element of our financial success and our operations teams are building the assets that we believe will deliver industry leading Partnership growth and at the same time delivering world class service to our customers.”
Key Stats (on next page)…