Recap: Magellan Midstream Q4 Earnings
Shares of Magellan Midstream (NYSE:MMP) rose 0.2% in pre-market trading after the company reported Q4 results.
Quarterly Results
Earnings per share decreased 28.24% over the past year to $0.94, which beat the estimate of $0.85.
Revenue of $586,324,000 decreased by 20.84% year over year, which missed the estimate of $639,040,000.
Looking Ahead
Earnings guidance hasn't been issued by the company for now.
Revenue guidance hasn't been issued by the company for now.
Details Of The Call
Date: Feb 02, 2021
Time: 01:30 PM
ET Webcast URL: https://www.magellanlp.com/investors/webcasts.aspx
Technicals
Company's 52-week high was at $62.53
Company's 52-week low was at $22.02
Price action over last quarter: Up 22.33%
Company Overview
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 60% of operating margin, with the remainder mainly crude oil pipelines.
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