UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO COMMISSION FILE NUMBER 001-38629 EQUITRANS MIDSTREAM CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of inco ...

The MVP is a joint venture involving several major energy companies. Equitrans Midstream Corporation (ETRN) , the leading developer, along with NextEra Energy (NEE) , Consolidated Edison (ED) , AltaGas, and RGC Resources, have all invested in this extensive project. Equitrans will operate the pipeline, which interconnects with the Transcontinental Gas Pipeline Co. at its southern terminus in Virginia. The Green Light Initially proposed in 2014 with an anticipated in-service date in 2018, the MVP has faced n ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (IRS Employer Identification No.) Pennsylvania 83-0516635 2200 Energy D ...

EQUITRANS MIDSTREAM ANNOUNCES FIRST QUARTER 2024 RESULTS Canonsburg, PA (April 30, 2024) – Equitrans Midstream Corporation (NYSE: ETRN), today, announced financial and operational results for the first quarter 2024. Included in the "Non-GAAP Disclosures" section of this news release are important disclosures regarding the use of non-GAAP supplemental financial measures, including information regarding their most comparable GAAP financial measure. Q1 2024 Highlights: "With all of the waterbody and wetland cr ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Equitrans Midstream (ETRN) , which belongs to the Zacks Oil and Gas - Integrated - United States industry, could be a great candidate to consider.This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 76.39%.For the most recent quarter, E ...

NEW YORK, March 12, 2024 /PRNewswire/ -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating potential claims related to the below-listed proposed mergers.  Kuehn Law may seek additional disclosures or other relief on behalf of the shareholders of these companies.  Kuehn Law is investigating whether the Boards of the below companies 1) acted to maximize shareholder value, 2) failed to disclose material information, and 3) conducted a fair process:  Equitrans Midstream Corporation (NYSE: ET ...

CANONSBURG, Pa.--(BUSINESS WIRE)--Equitrans Midstream Corporation (NYSE: ETRN) (ETRN) today announced that its wholly owned subsidiary, EQM Midstream Partners, LP (EQM), has priced an offering of $600 million in aggregate principal amount of its 6.375% senior notes due 2029 (the Notes). The Notes will be issued at a price of par. EQM intends to use the net proceeds from the offering of the Notes to repay certain outstanding indebtedness, including borrowings under EQM’s Third Amended and Restated Credit Agr ...

For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Equitrans Midstream (ETRN) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.Equitrans Midstream is one of 249 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #16 in the Zacks Sector Rank. The Zacks Sect ...

CANONSBURG, Pa.--(BUSINESS WIRE)--Equitrans Midstream Corporation (NYSE: ETRN) today announced that its wholly owned subsidiary, EQM Midstream Partners, LP (EQM), intends to offer, subject to market conditions, $600 million in aggregate principal amount of senior notes due 2029 (the Notes) in a private offering. EQM intends to use the net proceeds from the offering of the Notes to repay certain of its outstanding indebtedness, including borrowings under EQM’s Third Amended and Restated Credit Agreement, dat ...

Financial Data and Key Metrics - Full-year net income attributable to ETRN common shareholders was approximately $387 million, with earnings per diluted common share of $0.89 [42] - Adjusted EBITDA for the full year was $1,056 million, and deferred revenue was $329 million [42] - Net cash provided by operating activities for the full year was approximately $1 billion, while free cash flow was negative $129 million [42] - Fourth quarter net income attributable to ETRN common shareholders was $134 million, with earnings per diluted common share of $0.31 [42] - Fourth quarter adjusted EBITDA was $272 million, and deferred revenue was $88 million [42] - Full-year equity income was $175 million, with $78 million in the fourth quarter, primarily associated with AFUDC relating to MVP construction [43] - Operating revenue for the full year increased by $36 million compared to the previous year, driven by increased transmission and water service revenue, partially offset by lower gathering revenue [43] - Fourth quarter operating revenue increased by $5.4 million compared to the same period in 2022, primarily due to increased gathered volumes, partially offset by lower water volumes [43] Business Line Data and Key Metrics - Gathering segment averaged about 7.7 Bcf per day of gathered volumes in 2023, roughly flat year-over-year, with expectations for 2024 to remain flat [29] - Transmission segment is nearing completion of the Ohio Valley Connector Expansion Project (OVCX), expected to add 350 million cubic feet per day of incremental capacity, with a total capacity of over 1.2 billion cubic feet per day once complete [30] - Hammerhead pipeline generated $5 million in revenue in 2023, with additional volumes expected to flow North mid-year, contributing to the $65 million EBITDA target [4] - Water segment completed the majority of its mixed-use water system in 2023, with 2024 water CapEx expected to be $25 million to $35 million [41] Market Data and Key Metrics - MVP project is targeted for completion in the second quarter of 2024, with an estimated total project cost ranging from $7.57 billion to $7.63 billion [19] - MVP joint venture executed 20-year binding precedent agreements with two Southeast utility customers for the amended Southgate project, totaling 550 million cubic feet per day of firm capacity commitments [66] - Southgate project is targeted for completion in June 2028 [41] Company Strategy and Industry Competition - Company's priority remains bringing MVP into service safely, with a focus on environmental protocols and permitting compliance [19] - MVP and potential expansion projects are expected to add approximately 2.5 Bcf per day of takeaway capacity, addressing constraints in the basin and supporting volume growth in the southeast [40] - Company is engaged in a strategic process with third parties interested in potential transactions, reflecting the strength of its assets and the near-term completion of MVP [63] Management Commentary on Operating Environment and Future Outlook - Management highlighted the impact of adverse weather conditions on construction productivity, particularly in January, which led to updated timing and cost targets for the MVP project [27] - Favorable weather conditions in February have improved productivity, with expectations to further narrow construction timelines [38] - Management remains confident in the amended revolver covenant, providing adequate cushion for the MVP project financing [10][12] - Company expects to reduce leverage quickly after MVP project-level financing is completed [10] Other Important Information - Company initiated 2024 guidance, forecasting net income of $375 million to $455 million, adjusted EBITDA of $1.235 billion to $1.315 billion, and deferred revenue of approximately $145 million [70] - Full-year CapEx and capital contributions are expected to be $850 million to $955 million, with free cash flow projected to be negative $65 million to negative $145 million [70] - Company paid a cash dividend of $0.15 per common share in the fourth quarter [44] Q&A Session Summary Question: Thoughts on reducing the dividend to accelerate deleveraging - Management stated no plans to reduce the dividend, focusing instead on deleveraging through MVP project financing, which is expected to reduce debt by $800 million to $1 billion [94] Question: Steady-state sustaining CapEx after MVP is in service - Management confirmed sustaining CapEx for the Gathering segment is expected to be $200 million to $250 million, with 2024 likely at the lower end of this range [95] Question: Amended credit facility and leverage ratio - Management explained the amended credit facility provides a cushion, with leverage ratios set at 6 times for Q1, 6.25 times for Q2, and then decreasing to 5.85 times and 5.5 times in subsequent quarters [53] Question: Permitting status for MVP crossings - Management confirmed all permits are in good standing, with no delays triggered by weather issues, and close collaboration with regulatory agencies [74] Question: Timeline for MVP completion - Management provided an updated timeline for MVP completion, targeting the second quarter of 2024, with construction expected to finish in March and commissioning in April [21][51] Question: Hammerhead EBITDA expectations - Management clarified that Hammerhead's EBITDA is now reflected at $65 million, tied directly to MVP's in-service firm commitments, with potential for higher earnings [57] Question: Strategic process and third-party interest - Management acknowledged ongoing discussions with third parties regarding strategic transactions but declined to provide further details [63] Question: Progress on Appalachian Trail and Roanoke River crossings - Management reported 60% completion on the Appalachian Trail crossing and 20 feet remaining on the Roanoke River crossing, with no significant challenges expected [99] Question: MVP expansion project returns - Management indicated the MVP expansion is expected to add 0.5 Bcf per day of capacity, with build multiples in the 3 Bcf to 4 Bcf range, focusing on compression investments [72]