Valero Energy Partners (VLP) Misses Q1 EPS by 3c
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May 5, 2016 7:15 AM EDT
Reported EBITDA of $56 million and distributable cash flow of $51Â millionIncreased cash distribution by 6.25 percent to $0.34 per unitMaintained strong distribution coverage ratio of 2.0xContinue to target 25 percent annual distribution growth through 2017Completed McKee Terminal Services Business acquisition for total consideration of $240 million in April and signed a 10-year terminaling agreement with minimum volume commitments covering 85 percent of expected revenues for 2016
SAN ANTONIO, May 05, 2016 (GLOBE NEWSWIRE) -- Valero Energy Partners LP (NYSE: VLP) (the Partnership) today reported first quarter 2016 net income attributable to partners of $43 million, or $0.61Â per... More
May 3, 2016 7:06 AM EDT
Reported adjusted earnings of $283 million, or $0.60 per share, for the first quarter, which excludes a net after tax benefit of $212 million, or $0.45 per share, related to the change in the companys lower of cost or market inventory valuation reserveCompleted the St. Charles gasoil hydrocracker expansion project in March and the Houston crude unit is on track to start up in the second quarterReturned $547 million in cash to stockholders through dividends and stock buybacksCompleted the McKee Terminal Services Business drop down to Valero Energy Partners LP for total consideration of $240 million on April 1... More
