Magellan Midstream Partners L.P. (MMP) Misses Q2 EPS by 1c

Magellan Midstream Partners L.P. (NYSE: MMP) reported Q2 EPS of $0.70, $0.01 worse than the analyst estimate of $0.71. Revenue for the quarter came in at $496.4 million versus the consensus estimate of $503.27 million.

Distributable cash flow (DCF), a non-GAAP financial measure that represents the amount of cash generated during the period that is available to pay distributions, increased to $195.8 million for second quarter 2014, an increase of $27.6 million or 16% higher than the second-quarter 2013 DCF of $168.2 million.

"Magellan has generated strong financial results so far this year with solid demand for our fee-based transportation and terminal services in our refined products, crude oil and marine storage businesses and an attractive environment for our commodity-related activities," said Michael Mears, chief executive officer. "We remain on track to produce record annual financial results in 2014, increasing distributable cash flow guidance again this quarter, while making significant progress on construction projects designed to fuel Magellan's future growth."

For earnings history and earnings-related data on Magellan Midstream Partners L.P. (MMP) click here.

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