Holly Energy Partners, L.P. (HEP) Tops Q2 EPS by 6c, Revenues Beat

Holly Energy Partners, L.P. (NYSE: HEP) reported Q2 EPS of $0.35, $0.06 better than the analyst estimate of $0.29. Revenue for the quarter came in at $114.8 million versus the consensus estimate of $104.98 million.

• Reported net income attributable to HEP of $76.5 million or $0.73 per unit
• Announced quarterly distribution of $0.35 per unit
• Reported EBITDA of $112.5 million and Adjusted EBITDA of $80.2 million

Commenting on our 2020 second quarter results, Michael Jennings, Chief Executive Officer, stated, "As the COVID-19 pandemic continues, HEP remains focused on the health and safety of our employees, communities, and contractors and committed to safe and reliable operations. Despite the challenging economic conditions, our stable and secure cash flows, supported by minimum volume commitment contracts across our asset base, continue to highlight the strength of HEP's business model."

“Looking forward, we are optimistic that the recent improvements we have seen in demand for refined products will continue through the second half of 2020 and drive continued improvement in our volumes."

For earnings history and earnings-related data on Holly Energy Partners, L.P. (HEP) click here.

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