Recap: Magellan Midstream Q1 Earnings
Shares of Magellan Midstream (NYSE:MMP) rose 1.1% in pre-market trading after the company reported Q1 results.
Quarterly Results
Earnings per share rose 20.75% year over year to $1.28, which beat the estimate of $1.03.
Revenue of $782,806,000 higher by 24.47% year over year, which beat the estimate of $683,970,000.
Outlook
Earnings guidance hasn't been issued by the company for now.
Revenue guidance hasn't been issued by the company for now.
Conference Call Details
Date: May 01, 2020
Webcast URL: https://edge.media-server.com/mmc/p/sgsmpnik
Price Action
52-week high: $67.75
52-week low: $22.02
Price action over last quarter: down 32.99%
Company Profile
Magellan Midstream Partners is a master limited partnership that operates pipelines and storage terminals in the Central and Eastern United States. Its assets transport, store, and distribute refined petroleum products and crude and earn a fee-based stream of cash flows. Assets include the country's longest petroleum pipeline network, terminal storage, and several crude oil pipelines. Refined products make about 55% of operating margin, with the balance split between crude pipelines and marine terminals.
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