Revenue during the quarter grew 26.55 percent to $2,917 million from $2,305 million in the previous year period. Gross margin for the quarter contracted 351 basis points over the previous year period to 11.93 percent. Total expenses were 93.08 percent of quarterly revenues, down from 97.27 percent for the same period last year. This has led to an improvement of 419 basis points in operating margin to 6.92 percent.

Operating income for the quarter was $202 million, compared with $63 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $327 million compared with $317 million in the prior year period. At the same time, adjusted EBITDA margin contracted 254 basis points in the quarter to 11.21 percent from 13.75 percent in the last year period.

"We are pleased to report record EBITDA and Distributable Cash Flow," said Michael J. Hennigan, president and chief executive officer. "Continuing to grow ratable, fee-based earnings in the most challenging market conditions is a testament to our team's commitment to delivering on results through strategic organic expansion. While market challenges still remain, we are bullish on the long-term prospects for increased United States production to accommodate ever increasing global demand. In particular, we have strategically developed expansive platforms in the Permian Basin and in the Marcellus/Utica Shale which we believe will be the highest growth areas."