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Buckeye Partners, L.P. reported fourth-quarter 2018 earnings of 90 cents per unit, beating the Zacks Consensus Estimate of 69 cents by 30.24%. Moreover, the bottom line improved 5.9% year over year.
Total Revenues
In the quarter under review, Buckeye Partners’ total revenues came in at $1,074.8 million, beating the Zacks Consensus Estimate of $720 million by 49.3%.
The top line also surpassed the year-ago revenues of $946.1 million by 13.6%. The improvement was primarily due to strong contribution from its Merchant Services segment.
Buckeye Partners L.P. Price, Consensus and EPS Surprise
In the fourth quarter, the partnership’s adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) from continuing operations decreased 19% from the prior-year level to $234.7 million.
Total costs and expenses were $581.1 million, down 24.8% from the year-earlier figure of $772.4 million. Operating income in the reported quarter was $493.7 million, up a whopping 184.2% from the year-ago period.
Financial Screening
As of Dec 31, 2018, Buckeye Partners had cash and cash equivalents of $1.8 million compared with $2.2 million in the corresponding period of 2017.
Long-term debt as of Dec 31, 2018 was $4,536.7 million, lower than $4,658.3 million on Dec 31, 2017.
Total capital expenditure in the fourth quarter was $110.6 million, down 14.7% from $129.7 million a year ago.
Plains All American Pipeline, L.P. (PAA - Free Report) reported fourth-quarter 2018 adjusted earnings of 80 cents per unit, beating the Zacks Consensus Estimate of 69 cents by 15.9%.
Enterprise Products Partners L.P. (EPD - Free Report) delivered fourth-quarter 2018 adjusted earnings per limited partner unit of 59 cents, which beat the Zacks Consensus Estimate of 50 cents.
Magellan Midstream Partners, L.P. delivered fourth-quarter 2018 adjusted earnings per limited partner unit of $1.03, lagging the Zacks Consensus Estimate of $1.16 by 11.2%.
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See how you can more effectively safeguard your retirement with a new Special Report, “4 Warning Signs Your Investment Advisor Might Be Sabotaging Your Financial Future.”
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Buckeye Partners (BPL) Q4 Earnings & Revenues Beat Estimates
Buckeye Partners, L.P. reported fourth-quarter 2018 earnings of 90 cents per unit, beating the Zacks Consensus Estimate of 69 cents by 30.24%. Moreover, the bottom line improved 5.9% year over year.
Total Revenues
In the quarter under review, Buckeye Partners’ total revenues came in at $1,074.8 million, beating the Zacks Consensus Estimate of $720 million by 49.3%.
The top line also surpassed the year-ago revenues of $946.1 million by 13.6%. The improvement was primarily due to strong contribution from its Merchant Services segment.
Buckeye Partners L.P. Price, Consensus and EPS Surprise
Buckeye Partners L.P. Price, Consensus and EPS Surprise | Buckeye Partners L.P. Quote
Operational Highlights
In the fourth quarter, the partnership’s adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) from continuing operations decreased 19% from the prior-year level to $234.7 million.
Total costs and expenses were $581.1 million, down 24.8% from the year-earlier figure of $772.4 million. Operating income in the reported quarter was $493.7 million, up a whopping 184.2% from the year-ago period.
Financial Screening
As of Dec 31, 2018, Buckeye Partners had cash and cash equivalents of $1.8 million compared with $2.2 million in the corresponding period of 2017.
Long-term debt as of Dec 31, 2018 was $4,536.7 million, lower than $4,658.3 million on Dec 31, 2017.
Total capital expenditure in the fourth quarter was $110.6 million, down 14.7% from $129.7 million a year ago.
Zacks Rank
Buckeye Partners currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Releases
Plains All American Pipeline, L.P. (PAA - Free Report) reported fourth-quarter 2018 adjusted earnings of 80 cents per unit, beating the Zacks Consensus Estimate of 69 cents by 15.9%.
Enterprise Products Partners L.P. (EPD - Free Report) delivered fourth-quarter 2018 adjusted earnings per limited partner unit of 59 cents, which beat the Zacks Consensus Estimate of 50 cents.
Magellan Midstream Partners, L.P. delivered fourth-quarter 2018 adjusted earnings per limited partner unit of $1.03, lagging the Zacks Consensus Estimate of $1.16 by 11.2%.
Is Your Investment Advisor Fumbling Your Financial Future?
See how you can more effectively safeguard your retirement with a new Special Report, “4 Warning Signs Your Investment Advisor Might Be Sabotaging Your Financial Future.”
Click to get it free >>