Magellan Midstream Partners (MMP) Tops Q1 EPS by 3c

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Go back to Magellan Midstream Partners (MMP) Tops Q1 EPS by 3c

Magellan Midstream Reports Solid First-Quarter Financial Results, Increases 2016 Annual Distributable Cash Flow Guidance to $910 Million

May 4, 2016 8:30 AM EDT

TULSA, Okla., May 4, 2016 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) today reported net income of $207.1 million for first quarter 2016 compared to $183.6 million for first quarter 2015. The 2016 results include a $26.9 million non-cash gain related to the transfer of the partnership's 50% interest in Osage Pipe Line Company, LLC (Osage).

Distributable cash flow (DCF), a non-generally accepted accounting principles (non-GAAP) financial measure that represents the amount of cash generated during the period that is available to pay distributions, was $205.3 million for first quarter 2016 compared to $233.1 million for first quarter 2015. The decline... More