Equitrans Midstream Corporation Common Stock

Hello, and thank you for standing by. My name is Regina, and I will be your conference operator today. At this time, I would like to welcome everyone to the Equitrans Midstream second quarter 2022 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you'd like to withdraw your question, press star one again. I would now like to turn the conference over to Tom Karam, Chairman and CEO. Please go ahead.

Good morning, and welcome to the second quarter 2022 earnings call for Equitrans Midstream Corporation. A replay of this call will be available for 14 days beginning this evening. The phone number for the replay is 800-770-2030 or 647-362. and the conference ID is 662-5542. Today's call may contain forward-looking statements related to future events and expectations. Please refer to today's news release and risk factors in ETRN's Form 10-K for the year ended December 31, 2021, and as updated by Form 10-Qs for factors that could cause the actual results to differ materially from these forward-looking statements. Today's call may contain certain non-GAAP financial measures. Please refer to this morning's news release and our investor presentation for important disclosures regarding such measures, including reconciliation for the most comparable GAAP financial measure. On the call today are Tom Karam, Chairman and CEO, Diana Sharlata, President and Chief Operating Officer, Kirk Oliver, Senior Vice President and Chief Financial Officer, Justin Mackin, Senior Vice President of Gas Systems Planning and Engineering, Brian Petrandrea, Vice President and Chief Accounting Officer, and Janice Brenner, Vice President and Treasurer. After the prepared remarks, we will open the call to questions. With that, I will turn it over to Tom.

Thanks, Nate, and good morning, everyone. Today, we reported second quarter results ahead of our forecast. including net income of $74 million, adjusted EBITDA of $264 million, and deferred revenue of $89 million. We also increased our full-year financial guidance.