Management remarks
Call period: 2026 Q2 · 2026-07-30
Demand and orders: A. Teague: In the Permian, we saw a 14% increase over the second quarter of last year, bringing our total inlet volume in the basin to 4.3 billion cubic feet a day, reflecting continued gross growth in producer activity across both basins.Analyst Q&A
Analyst Keith Stanley asked: Randy, wanted to start by clarifying your free cash flow commentary for the year. So you raised the CapEx by $600 million to $800 million, you said you still expect free cash flow to approach $1 billion. So free cash flow is only slightly lower than last quarter. Is that just simply much higher EBITDA than you previously expected? Management W. Fowler answered: It really comes into the 2 moving pieces are really EBITDA and growth CapEx. And if you would, the -- while we've seen over $700 million increase in growth CapEx just because of excellent project opportunities. At the same time, our cash flow is up that much, even not that much, which basically almost offset all that we've seen in growth.管理层陈述
电话会期间：2026 Q2 · 2026-07-30
需求与订单：A.蒂奇表示：在二叠纪盆地，我们的进气量较去年第二季度增长14%，使该盆地的总进气量达到每日43亿立方英尺，这反映出两个盆地的生产商活动持续大幅增长。分析师问答
分析师基思·斯坦利提问：兰迪，首先想明确一下你今年的自由现金流点评内容。你们将资本支出上调6亿美元至8亿美元，但仍预计自由现金流将接近10亿美元，仅较上季度略低，这仅仅是因为预期的EBITDA远高于此前吗？管理层W·福勒回应：这主要涉及两个变动因素：EBITDA和增长型资本支出。尽管由于优质项目机会，增长型资本支出增加了逾7亿美元，但与此同时，我们的现金流也上涨了几乎同等幅度，几乎完全抵消了资本支出的增长。This earnings research was prepared from company results, regulatory filings, financial statements, and earnings-call transcripts or official replays. It is for informational purposes only and does not constitute investment advice.这篇财报研究基于公司业绩公告、监管文件、财务报表，以及财报电话会议记录或官方回放整理。内容仅供参考，不构成投资建议。
