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Magellan Midstream: 2Q Earnings Snapshot

August 2, 2018

TULSA, Okla. (AP) _ Magellan Midstream Partners L.P. (MMP) on Thursday reported second-quarter earnings of $214.4 million.

On a per-share basis, the Tulsa, Oklahoma-based company said it had net income of 94 cents. Earnings, adjusted for non-recurring costs, came to $1.05 per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1 per share.

The petroleum and oil storage and transportation company posted revenue of $644.1 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $618.1 million.

Magellan Midstream shares have increased 1.5 percent since the beginning of the year. The stock has climbed 3 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MMP at https://www.zacks.com/ap/MMP

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