Magellan Midstream Partners (MMP) Tops Q2 EPS by 37c, Revenues Beat

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Magellan Midstream Reports Second-Quarter 2020 Financial Results

July 30, 2020 8:00 AM EDT

TULSA, Okla., July 30, 2020 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) today reported net income of $133.8 million for second quarter 2020 compared to $253.7 million for second quarter 2019. The decrease in second-quarter 2020 net income was primarily driven by reduced demand for refined products due to travel and economic restrictions related to COVID-19 and the negative impact of the lower commodity price environment on various aspects of the partnership's business.

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