Valero Energy Partners (VLP) Misses Q3 EPS by 6c, Miss on Revenues

Valero Energy Partners (NYSE: VLP) reported Q3 EPS of $0.65, $0.06 worse than the analyst estimate of $0.71. Revenue for the quarter came in at $109.34 million versus the consensus estimate of $112.55 million.

• Reported net income attributable to partners of $58 million and EBITDA attributable to the Partnership of $79 million.
• Reported net cash provided by operating activities of $79 million and distributable cash flow of $75 million.
• Increased the cash distribution by 5.5 percent to $0.48 per unit, resulting in a distribution coverage ratio of 1.6x.
• Announced the acquisitions of the Port Arthur terminal assets and Parkway Pipeline LLC for $508 million, which are expected to close effective November 1, 2017.

For earnings history and earnings-related data on Valero Energy Partners (VLP) click here.

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