Valero Energy Partners (VLP) Tops Q1 EPS by 4c, Beats on Revenues

Valero Energy Partners (NYSE: VLP) reported Q1 EPS of $0.72, $0.04 better than the analyst estimate of $0.68. Revenue for the quarter came in at $131.94 million versus the consensus estimate of $124.55 million.

• Reported net income of $66 million and EBITDA of $97 million.
• Reported net cash provided by operating activities of $86 million and distributable cash flow of $86 million.
• Increased cash distribution to $0.5275 per unit, a 3.9 percent increase over the fourth quarter 2017, with a distribution coverage ratio of 1.6x.

“Backed by solid operations, a healthy coverage ratio and a strong balance sheet, VLP remains well-positioned to achieve its distribution growth target of at least 20 percent for 2018 without the need for additional acquisitions,” said Joe Gorder, Chairman and Chief Executive Officer of VLP’s general partner.

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

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