NuStar Energy L.P. (NS) Misses Q3 EPS by 14c, Revenues Miss

NuStar Energy L.P. (NYSE: NS) reported Q3 EPS of $0.15, $0.14 worse than the analyst estimate of $0.29. Revenue for the quarter came in at $378.06 million versus the consensus estimate of $397.5 million.

“Our strong third quarter 2019 results were primarily driven by continued volume ramp on our Permian Crude System, as well as a contribution from our new Taft 30-inch pipeline utilized for crude exports out of our Corpus Christi North Beach terminal,\" said NuStar President and CEO Brad Barron.

“During the month of October, the Corpus Christi Crude System saw aggregate volumes increase to 591,000 barrels per day (BPD), double our receipts in July, before our Taft pipeline projects were in service. Additionally, during October, we moved 169,000 BPD into the Corpus Christi refinery market and over 422,000 BPD over our docks, which more than doubles the amount moved over the docks in July.”

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

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