Buckeye Partners (BPL) Misses Q4 EPS by 25c

Buckeye Partners (NYSE: BPL) reported Q4 EPS of $0.78, $0.25 worse than the analyst estimate of $1.03. Revenue for the quarter came in at $924.06 million versus the consensus estimate of $867.51 million.

"We are pleased to report solid fourth quarter results across all of our operating segments,” said Clark C. Smith, Chairman, President and Chief Executive Officer. “Global Marine Terminals reported improved adjusted EBITDA as strong demand drove high capacity utilization across our legacy assets and the contribution of our Buckeye Texas Partners assets improved year over year despite encountering some operational issues that negatively impacted financial performance. Buckeye Merchant Services continued to benefit from effective supply chain management while delivering a record contribution to our other segments for the quarter. Domestic Pipelines and Terminals performed well for the quarter recording higher storage, pipeline transportation and terminal throughput revenue, offset by the adverse impact of the loss of a crude-by-rail contract at the end of the third quarter and compressed butane spreads in the fourth quarter of 2016.”

For earnings history and earnings-related data on Buckeye Partners (BPL) click here.

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