Magellan Midstream: 2Q Earnings Snapshot
July 31, 2020
TULSA, Okla. (AP) _ Magellan Midstream Partners L.P. (MMP) on Thursday reported second-quarter profit of $133.8 million.
On a per-share basis, the Tulsa, Oklahoma-based company said it had profit of 59 cents. Earnings, adjusted for non-recurring costs, were 65 cents per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.
The petroleum and oil storage and transportation company posted revenue of $460.4 million in the period, also missing Street forecasts. Four analysts s...