Magellan Midstream Partners (MMP) Tops Q3 EPS by $1.63

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Go back to Magellan Midstream Partners (MMP) Tops Q3 EPS by $1.63

Magellan Midstream Reports Higher Third-Quarter Financial Results

November 1, 2018 8:29 AM EDT

TULSA, Okla., Nov. 1, 2018 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) today reported net income of $594.5 million for third quarter 2018 compared to $198.5 million for third quarter 2017. The 2018 results include a $353.8 million gain related to the sale of a portion of the partnership's ownership interest in BridgeTex Pipeline Company, LLC.

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 $281.8 million for third quarter 2018 compared to $235.2 million for... More