Dominion Midstream Partners, LP (NYSE:DM) reported unaudited net income attributable to the partnership of $24.3 million, or 30 cents per common limited partner unit for the three months ended Sept. 30, 2016. Adjusted earnings before interest, income taxes, depreciation and amortization (Adjusted EBITDA) was $27.9 million, and distributable cash flow was $24.1 million for the quarter.
Dominion Midstream uses Adjusted EBITDA and distributable cash flow as the primary performance measurements of its earnings and results for public communications with analysts and investors. Dominion Midstream also uses Adjusted EBITDA and distributable cash flow internally for budgeting, reporting to the Board of Directors and other purposes. Management believes Adjusted EBITDA and distributable cash flow provide a more meaningful representation of the company’s financial performance and liquidity. Schedules B and D of this press release include a reconciliation to the most directly comparable GAAP measure.
QUARTERLY DISTRIBUTION
On Oct. 21, 2016, the Board of Directors declared a quarterly distribution of $0.2475 per unit, payable on Nov. 15, 2016, to unitholders of record at the close of business Nov. 4, 2016.
CONFERENCE CALL TODAY
Dominion Midstream and Dominion Resources will jointly host a third-quarter earnings conference call at 1 p.m. ET on Monday, Oct. 31, 2016. Management will discuss its third-quarter financial results and other matters of interest to the financial community.
Domestic callers should dial (877) 410-5657. International callers should dial (334) 323-9872. The passcode for the conference call is “Dominion.” Participants should dial in 10 to 15 minutes prior to the scheduled start time. Members of the media also are invited to listen.
A live webcast of the conference call, including accompanying slides, will be available on the company’s investor information page at www.dommidstream.com/investors.
A replay of the conference call will be available beginning about 4 p.m. ET Oct. 31, 2016 and lasting until 11 p.m. ET Nov. 7, 2016. Domestic callers may access the recording by dialing (877) 919-4059. International callers should dial (334) 323-0140. The PIN for the replay is 85471176. Additionally, a replay of the webcast will be available on the investor information pages by the end of the day Oct. 31, 2016.
ABOUT DOMINION MIDSTREAM
Dominion Midstream is a Delaware limited partnership formed by Dominion Resources, Inc., to grow a portfolio of natural gas terminaling, processing, storage, transportation and related assets. It is headquartered in Richmond, Va. For more information about Dominion Midstream, visit its website at www.dommidstream.com.
