Magellan Midstream (MMP) Misses on Q4 Earnings Estimates

Tulsa, OK-based Magellan Midstream Partners LP 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.

Currently, Magellan Midstream has a Zacks Rank #3 (Hold) but that could change following its fourth-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 (EPU) – excluding mark-to-market commodity-related pricing adjustments – of 86 cents, missing the Zacks Consensus Estimate of 88 cents.   

Revenue: Total revenues of $573.1 million failed to beat the Zacks Consensus Estimate of $604 million.  

Key Stats: In the Refined Products segment, quarterly operating profits (before affiliate G&A and D&A expenses) were recorded at $203.8 million, down 19.1% from the year-ago quarter. However, the partnership’s operating margin from Crude Oil unit was approximately $95.2 million, up 7.2% from the prior-year quarter.

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

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