- Reported adjusted EBITDA and distributable cash flow are ahead of plan;
- Announced the first quarterly distribution of $0.35 per unit; and
- Increasing guidance for adjusted EBITDA and distributable cash flow over the twelve month period ending June 30, 2013.
EQT Midstream Partners, LP (NYSE: EQM), a Delaware limited partnership and an EQT Corporation company, today announced third quarter 2012 financial and operating results. Net income for the quarter totaled $12.0 million, or $0.34 per limited partner unit, and adjusted EBITDA was $17.2 million, or $0.49 per unit. Distributable cash flow was $11.6 million, or $0.33 per unit, for the quarter. Adjusted operating income was higher by about $2 million, or 17%, when compared to the same quarter last year, adjusting for a $2.5 million credit to purchased gas costs in 2011. The non-GAAP financial measures are reconciled in the Non-GAAP Disclosures section of this press release. Highlights for the third quarter 2012: