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Equitrans Midstream Corp (ETRN)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
 
In millions, except per share itemsDec-31-21Dec-31-20Dec-31-19Dec-31-18Dec-31-17Dec-31-16Dec-31-15
   10-K10-K10-K10-K10-K10-KS-1
Revenues:  
    Gathering  862.11,012.31,159.9997.1510.0  
    EQT Corporation  777.1966.91,124.91,106.4662.7  
    Transmission  400.2393.8390.5386.8372.0  
    PNG Companies, LLC      98.5  
Total revenues  1,317.01,510.81,630.21,495.1895.60.0122.6
            Revenue growth   [+]-12.8%-7.3%9.0%66.9% -100.0% 
Cost of goods sold  683.5686.31.453.385.1267.20.0
Gross profit  633.6824.61,628.81,441.8810.4-267.2122.6
            Gross margin  48.1%54.6%99.9%96.4%90.5% 100.0%
Selling, general and administrative   [+]  1,552.8798.7267.4 24.4
Other operating expenses     53.712.6-725.421.3
EBITDA   [+]968.81,147.4356.6806.8632.6520.997.7
            EBITDA margin  73.6%75.9%21.9%54.0%70.6% 79.7%
Depreciation  270.4259.6227.4175.896.762.719.2
EBITA  698.4887.8129.3631.0536.0458.278.5
            EBITA margin  53.0%58.8%7.9%42.2%59.8% 64.0%
Amortization of intangibles  64.863.253.341.55.5 1.6
EBIT   [+]633.6824.676.0589.4530.4458.276.9
            EBIT margin  48.1%54.6%4.7%39.4%59.2% 62.7%
Non-recurring items        1.1
Other income (expense), net   [+]-2,344.6-81.2-90.35.04.427.1-5.6
Pre-tax income  -1,711.0743.4-14.3594.4534.9485.370.1
Income taxes  -345.1105.350.783.1212.498.220.7
            Tax rate  20.2%14.2% 14.0%39.7%20.2%29.5%
Minority interest        -23.3
Net income  -1,380.5423.1-203.7218.4-27.265.272.7
            Net margin  -104.8%28.0%-12.5%14.6%-3.0% 59.3%
   
Basic EPS   [+]($3.19)$1.23($0.80)$0.86($0.11)$0.26 
Diluted EPS   [+]($3.19)$1.23($0.80)$0.86($0.11)$0.26 
   
Dividends per share   [+]$0.60$0.90$1.76    
   
Shares outstanding (basic)   [+]433.0343.9254.9254.4254.4254.4 
Shares outstanding (diluted)   [+]433.0344.0254.9255.0254.4255.0 
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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