CANONSBURG, Pa. (AP) _ Equitrans Midstream Corporation (ETRN) on Tuesday reported fourth-quarter net income of $132.4 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Canonsburg, Pennsylvania-based company said it had profit of 27 cents. Earnings, adjusted for one-time gains and costs, were 31 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.
The company posted revenue of $367.1 million in the period.
For the year, the company reported net income of $423.1 million, or $1.06 per share, swinging to a profit in the period. Revenue was reported as $1.51 billion.
Equitrans Midstream shares have fallen almost 9% since the beginning of the year. The stock has decreased 26% in the last 12 months.