NuStar Energy L.P. (NS) Misses Q2 EPS by 6c, Revenues Beat

NuStar Energy L.P. (NYSE: NS) reported Q2 EPS of $0.15, $0.06 worse than the analyst estimate of $0.21. Revenue for the quarter came in at $486.2 million versus the consensus estimate of $480.35 million.

“Our Permian Crude System continues to grow and perform and was the primary contributor to a strong second quarter for NuStar. During the second quarter of 2018, the Permian Crude System averaged pipeline receipts of over 266,000 barrels per day (BPD) and exited July at over 300,000 BPD. Since our acquisition of the Permian Crude System in May of 2017 volumes are up 140%, significantly higher than the overall growth in the Permian basin of 46% during the same period. Based on our producers’ expectations, we expect our Permian Crude System to continue to drive our partnership's growth and exit 2018 between approximately 360,000 and 380,000 BPD,” said Brad Barron, President and Chief Executive Officer of NuStar Energy L.P.

For earnings history and earnings-related data on NuStar Energy L.P. (NS) click here.

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