Magellan Midstream Partners (MMP) Tops Q3 EPS by 10c, Revenues Beat
Magellan Midstream Partners (NYSE: MMP) reported Q3 EPS of $0.94, $0.10 better than the analyst estimate of $0.84. Revenue for the quarter came in at $656.6 million versus the consensus estimate of $574.94 million.
"Magellan continues to generate solid results during a difficult year for both our industry and nation, reinforcing the resilient nature of our business that focuses on the safe and reliable delivery of petroleum products that are essential and beneficial to everyday life," said Michael Mears, chief executive officer. "Magellan is a strong company on firm financial footing, with our investment-grade balance sheet providing strength to weather the current challenging environment and build for the future."
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