Shell Midstream Partners (SHLX) Tops Q3 EPS by 9c, Revenues Beat

Shell Midstream Partners (NYSE: SHLX) reported Q3 EPS of $0.50, $0.09 better than the analyst estimate of $0.41. Revenue for the quarter came in at $153.5 million versus the consensus estimate of $135.23 million.

“I'm pleased with the operational and financial results for the quarter,” said Kevin Nichols, CEO Shell Midstream Partners, GP LLC. “We continue to see strong performance from our base business - strength in the onshore with high demand on the Zydeco system; and organic growth coming from key systems in our offshore portfolio. In addition, we expect our sponsor to waive distributions associated with IDR growth in 2019, of approximately $50 million, which will be available for reinvestment. This support from our sponsor would help strengthen our resilient framework, despite market volatility.”

For earnings history and earnings-related data on Shell Midstream Partners (SHLX) click here.

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