I leave it up to others to dissect these reports, but I try to get beyond the one line headline. Profits down because of writeoffs. Distribution raised to $1.23 from $1.20 from last quarter. Projections for the year is $4.98 distribution!!!! While KMP not always hitting earnings estimates, I believe they are accurate on distribution projections which are based on cash flow not book profits. It seems often when a stock price runs up before report and then they miss (or even meet expectations) the price declines, but KMP up 1%. READ BEYOND HEADLINES.