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Magellan Midstream (MMP) Misses Q1 Earnings - Tale of the Tape

Tulsa, OK-based Magellan Midstream Partners, L.P. ( MMP ) 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 first-quarter 2015 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 (EPU) of 83 cents (excluding mark-to-market commodity-related pricing adjustments), failed to beat the Zacks Consensus Estimate of 93 cents.

Revenue: Revenues of $522.1 million also failed to surpass the Zacks Consensus Estimate of $648 million.

Key Stats: Quarterly operating profits from the Refined Products segment were recorded at $183.4 million, down almost 28% from the year-ago quarter. The unit Crude Oil reported operating margin of approximately $84.7 million, up 33.8% from the prior-year quarter. The partnership's earnings from the Marine Storage segment fell about 2% year over year to $27.9 million.

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

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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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