Summit Midstream Partners, LP (NYSE:SMLP) is reporting third quarter financial results on Friday 6th November 2020, before market open.
According to analysts surveyed by Thomson Reuters, SMLP is expected to report 3Q20 income of $ 0.18 per share from revenue of $ 98.80 million.
For the full year, analysts anticipate top line of $ 386.45 million, while looking forward to income of $ 1.01 per share bottom line.
Previous Quarter Performance
Summit Midstream Partners, LP disclosed income for the second quarter of $ 0.05 per share, from the revenue of $ 92.01 million. Wall street analysts are predicting, SMLP to report 2Q20 income of $ 0.30 per share from revenue of $ 100.08 million. The bottom line results missed street analysts by $ 0.25 or 83.33 percent, at the same time, top line results fell short of analysts by $ 8.07 million or 8.06 percent.
Stock Performance
Shares of Summit Midstream Partners, LP traded up $ 0.07 or 10.06 percent on Thursday, reaching $ 0.78 with volume of 519.80 thousand shares. Summit Midstream Partners, LP has traded high as $ 0.80 and has cracked $ 0.70 on the downward trend
According to the previous trading day, closing price of $ 0.78, representing a 42.00 % increase from the 52 week low of $ 0.50 and a 85.33 % decrease over the 52 week high of $ 4.84.
The company has a market capital of $ 43.59 million and is part of the Energy sector and Oil & Gas Midstream industry.
Conference Call
Summit Midstream Partners, LP will be hosting a conference call at 10:00 AM eastern time on 6th November 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.summitmidstream.com
Summit Midstream Partners, LP focuses on owning, developing, and operating midstream energy infrastructure assets primarily shale formations in the continental United States. The company provides natural gas gathering, treating, and processing services, as well as crude oil and produced water gathering services. Its unconventional resource basins include the Appalachian Basin, which comprise the Utica and Point Pleasant shale formations in southeastern Ohio, and the Marcellus Shale formation in northern West Virginia; the Williston Basin that consists of the Bakken and Three Forks shale formations in northwestern North Dakota; the Denver-Julesburg Basin, which include the Niobrara and Codell shale formations in northeastern Colorado; the northern Delaware Basin that comprise the Wolfcamp and Bone Spring formations, in southeastern New Mexico; the Piceance Basin, which include the Mesaverde formation, and the Mancos and Niobrara shale formations in western Colorado and eastern Utah; and the Fort Worth Basin that comprises the Barnett Shale formation in north-central Texas.
