Magellan Midstream Partners, L.P. (NYSE: MMP) today reported net income of $287.6 million for first quarter 2020 compared to $207.7 million for first quarter 2019. The increase in first quarter 2020 net income was primarily driven by mark-to-market (MTM) adjustments for hedge positions related to the partnership's commodity-related activities.
High sales and earnings at reasonable prices Continue reading...
The oil patch is still filled with risk, but there are opportunities to profit from the 2020 coronavirus crash.
Magellan Midstream Partners, L.P. and Magellan Midstream Holdings, L.P. Fourth Quarter 2007 Earnings Results
Investors have bailed on these dividend stocks this year, pushing their yields up to eye-popping levels.
Magellan Midstream Partners, L.P. and Magellan Midstream Holdings, L.P. Fourth Quarter 2008 Earnings Results
Magellan Midstream's (MMP) distributable cash flow (DCF) of $306.5 million in the first quarter slips 3.6% from the year-ago level.
Both Magellan Midstream Partners (NYSE: MMP) and MPLX (NYSE: MPLX) are top Master Limited Partnerships that have tumbled lately. Crude oil production in the US is being affected by demand destruction due to coronavirus in an oversupplied market. Midstream operators, including Magellan and MPLX, are sure to face some heat in such a scenario.
Magellan Midstream Partners, L.P. (NYSE: MMP) plans to announce financial results for first quarter 2020 before the market opens on Fri., May 1. Management will discuss first-quarter 2020 earnings and outlook for the remainder of the year during a conference call with analysts at 1:30 p.m. Eastern the same day.
Shares of Magellan Midstream (NYSE:MMP) rose 1.1% in pre-market trading after the company reported Q1 results.Quarterly Results Earnings per share rose 20.75% year over year to $1.28, which beat the estimate of $1.03.Revenue of $782,806,000 higher by 24.47% year over year, which beat the estimate of $683,970,000.Outlook Earnings guidance hasn't been issued by the company for now.Revenue guidance hasn't been issued by the company for now.Conference Call Details Date: May 01, 2020View more earnings on MMPWebcast URL: https://edge.media-server.com/mmc/p/sgsmpnikPrice Action 52-week high: $67.7552-week low: $22.02Price action over last quarter: down 32.99%Company Profile Magellan Midstream Partners is a master limited partnership that operates pipelines and storage terminals in the Central and Eastern United States. Its assets transport, store, and distribute refined petroleum products and crude and earn a fee-based stream of cash flows. Assets include the country's longest petroleum pipeline network, terminal storage, and several crude oil pipelines. Refined products make about 55% of operating margin, with the balance split between crude pipelines and marine terminals.See more from Benzinga * Recap: Restaurant Brands Q1 Earnings * Recap: AbbVie Q1 Earnings * Recap: Honeywell International Q1 Earnings(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Despite an unprecedented downturn in oil demand that's set to wreak havoc for many months ahead, there are some companies that look buy-worthy right now.
OPEC will meet next week to discuss production cuts Continue reading...
Magellan Midstream Partners believes it can generate enough cash to keep paying its big-time payout.
Magellan Midstream Partners, L.P. (NYSE: MMP) announced today that it has priced $500 million of its 3.25% senior notes due 2030. The notes were priced at 99.88% of par to yield 3.264% to maturity. The partnership intends to use the net proceeds from this offering of approximately $495.4 million, after deducting underwriting discounts and estimated offering expenses, for general partnership purposes, which may include capital projects and repayment of indebtedness, including borrowings under its revolving credit facility and commercial paper program and redemption of its 4.25% senior notes due 2021.
Q1 2020 Magellan Midstream Partners LP Earnings Call
MMP earnings call for the period ending March 31, 2020.
Magellan Midstream Partners, L.P. and Magellan Midstream Holdings, L.P. First Quarter 2009 Earnings Results
Magellan Midstream Partners, L.P. and Magellan Midstream Holdings, L.P. Third Quarter 2008 Earnings Results
Magellan Midstream Partners, L.P. (NYSE: MMP) announced today that it will host its 2020 annual meeting of limited partners on Thurs., April 23 at 10:00 a.m. Central Time via webcast. Due to the coronavirus pandemic, Magellan changed its previously-planned annual meeting in Tulsa to this webcast event. Unitholders will not be able to attend the annual meeting in person.
Magellan Midstream Partners, L.P. and Magellan Midstream Holdings, L.P. First Quarter 2008 Earnings Results