Holly Energy Partners, L.P. (HEP) Misses Q4 EPS by 2c

Holly Energy Partners, L.P. (NYSE: HEP) reported Q4 EPS of $0.43, $0.02 worse than the analyst estimate of $0.45. Revenue for the quarter came in at $131.6 million versus the consensus estimate of $133.87 million.

Commenting on our 2019 fourth quarter results, Michael Jennings, Chief Executive Officer, stated, “HEP delivered solid fourth quarter results despite heavy maintenance across HFC’s refining system. HEP’s business model continues to provide stable cash flows supported by long term contracts with minimum volume commitments.

“Looking forward, we are making progress on our Cushing Connect project and expect completion on schedule. HEP expects to hold quarterly cash distribution constant at $0.6725, while maintaining a coverage of 1.0x for the full year 2020.”

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

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