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Magellan Midstream (MMP) Beats on Q3 Earnings & Revenues

Tulsa, OK-based Magellan Midstream Partners LPMMP is a master limited partnership (MLP) that owns and operates a diversified portfolio of energy infrastructure assets. The partnership primarily transports, stores, and distributes refined petroleum products and, to a lesser extent, ammonia. Magellan conducts its operations in three segments: Refined Products, Crude Oil, and Marine Storage.

Currently, Magellan Midstream has a Zacks Rank #3 (Hold) but that could change following its third quarter 2015 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:

Earnings: The partnership reported earnings per unit - excluding mark-to-market commodity-related pricing adjustments - of 86 cents, higher than the Zacks Consensus Estimate of 73 cents.

Revenue: Total revenues of $577.2 million have outperformed the Zacks Consensus Estimate of $520 million.

Key Stats: Operating margin in the Refined Products segment increased by 20.5% from the year-earlier quarter to $241.6 million, while for the Crude Oil unit it improved 34.6% to $94.7 million. Moreover, the Marine Storage segment profitability increased to $32.2 million, from $27.6 million in the third quarter of 2014.

Check back later for our full write up on this Magellan Midstreamearnings report later!

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MAGELLAN MDSTRM (MMP): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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