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Income Statement (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Revenue | 362M | 47.4% |
| Gross Profit | 298M | 66.2% |
| Cost of Revenue | 64M | 3.5% |
| Operating expense | 64M | 3.5% |
| Net Income | 70M | 35.4% |
| EBITDA | 193M | 2.3% |
Balance Sheet (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Total Assets | 12.1B | 2.3% |
| Total Liabilities | 9.92B | 3% |
| Total Equity | 1.06B | 1.6% |
| Shares Outstanding | 435M | 0.3% |
Cash Flow (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Cash from operations | 259M | 46% |
| Cash from investing | -221M | 56.4% |
| Cash from financing | 52M | 56.8% |
EPS
Financial Highlights for Equitrans Midstream in Q2 '24
Equitrans Midstream reported a revenue of 362M, which is a 47.4% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 298M, marking a 66.2% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 64M, a -3.5% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 64M, showing a -3.5% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was 70M, showing a -35.4% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was 193M, showing a -2.3% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
Equitrans Midstream faced some challenges this quarter with a decline in one or more of the key metrics: revenue, gross profit, or net income. A decline in EBITDA signals potential operational challenges or increased costs.
