Magellan Midstream Partners (MMP) Misses Q1 EPS by 9c

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Go back to Magellan Midstream Partners (MMP) Misses Q1 EPS by 9c

Magellan Midstream Reports First-Quarter Financial Results, Increases Annual Distributable Cash Flow Guidance to $870 Million for 2015

May 5, 2015 8:31 AM EDT

TULSA, Okla., May 5, 2015 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) today reported net income of $183.6 million for first quarter 2015 compared to $242.6 million for first quarter 2014. The decrease in current year net income was driven by reduced profits from the partnership's commodity-related activities, due to both lower realized commodity prices on these activities and the timing of mark-to-market (MTM) pricing adjustments for the related hedging positions, partially offset by higher contributions from Magellan's core fee-based transportation and terminal activities.

Distributable cash flow (DCF), a non-generally accepted accounting principles (non-GAAP)... More