MarkWest Energy Partners Earnings: Here’s Why the Stock is Up Now
MarkWest Energy Partners LP (NYSE:MWE) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 0.02%.
MarkWest Energy Partners LP Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.12 in the quarter versus EPS of $0.14 in the year-earlier quarter.
Revenue: Rose 7.83% to $377.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: MarkWest Energy Partners LP reported adjusted EPS loss of $0.12 per share. By that measure, the company missed the mean analyst estimate of $0.27. It missed the average revenue estimate of $438.54 million.
Quoting Management: “Our diverse set of midstream assets continues to deliver strong financial results and create opportunities for future growth,” said Frank Semple, Chairman, President and Chief Executive Officer. “The recent completion of nine major projects since last October and the planned completion of 18 additional major projects over the next year and a half will continue to grow our fee-based income and distributable cash flow for years to come. In addition, we are very pleased with the acquisition of the Chesapeake assets in the Granite Wash and our entrance into the liquids-rich Eagle Ford Shale through our strategic agreement with Newfield Exploration.”
Key Stats (on next page)…