Magellan Midstream: Q2 Earnings Snapshot
TULSA, Okla. (AP) _ Magellan Midstream Partners L.P. (MMP) on Thursday reported second-quarter profit of $353.9 million.
The Tulsa, Oklahoma-based company said it had net income of $1.67 per share. Earnings, adjusted to account for discontinued operations, were $1.13 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.
The petroleum and oil storage and transportation company posted revenue of $788.6 million in the period.
Magellan Midstream expects full-year earnings to be $5.05 per share.