We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Buckeye Partners' (BPL) Q2 Earnings Beat, Revenues Miss
Read MoreHide Full Article
Buckeye Partners, L.P. reported second-quarter 2019 earnings of 58 cents per unit, beating the Zacks Consensus Estimate of 55 cents by 5.4%. However, the bottom line declined by a penny from the year-ago quarter.
Total Revenues
In the quarter under review, Buckeye Partners’ total revenues came in at $791.7 million, lagging the Zacks Consensus Estimate of $1,007 million by 21.4%.
The top line also declined 15.8% from the year-ago revenues of $940.8 million. The decline was due to lower contribution from all its reportable segments.
Buckeye Partners L.P. Price, Consensus and EPS Surprise
In the second quarter, the partnership’s adjusted earnings before interest, taxes, depreciation and amortization from continuing operations decreased 15.9% from the prior-year level to $214.3 million.
Total costs and expenses were $654.1 million, down 17.7% from the year-earlier figure of $795.1 million. Operating income in the reported quarter was $137.6 million, down 5.6% from the year-ago period.
Financial Screening
As of Jun 30, 2019, Buckeye Partners had cash and cash equivalents of $6.2 million compared with $1.8 million on Dec 31, 2018.
Long-term debt as of Jun 30, 2019 was $3,730 million, lower than $4,536.7 million on Dec 31, 2018.
Total capital expenditure in the first half of 2019 was $191.2 million, down 23.5% from $250 million invested in the year-ago period.
ONEOK Inc. (OKE - Free Report) reported second-quarter 2019 operating earnings of 75 cents per share, which surpassed the Zacks Consensus Estimate of 70 cents by 7.1%.
Magellan Midstream Partners, L.P. reported second-quarter 2019 adjusted earnings of $1.20 per unit, beating the Zacks Consensus Estimate of $1.07 by 12.1%.
Enterprise Products Partners L.P. (EPD - Free Report) reported second-quarter 2019 adjusted earnings per limited partner unit of 55 cents, which beat the Zacks Consensus Estimate of 52 cents.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
Image: Bigstock
Buckeye Partners' (BPL) Q2 Earnings Beat, Revenues Miss
Buckeye Partners, L.P. reported second-quarter 2019 earnings of 58 cents per unit, beating the Zacks Consensus Estimate of 55 cents by 5.4%. However, the bottom line declined by a penny from the year-ago quarter.
Total Revenues
In the quarter under review, Buckeye Partners’ total revenues came in at $791.7 million, lagging the Zacks Consensus Estimate of $1,007 million by 21.4%.
The top line also declined 15.8% from the year-ago revenues of $940.8 million. The decline was due to lower contribution from all its reportable segments.
Buckeye Partners L.P. Price, Consensus and EPS Surprise
Buckeye Partners L.P. price-consensus-eps-surprise-chart | Buckeye Partners L.P. Quote
Highlights of the Release
In the second quarter, the partnership’s adjusted earnings before interest, taxes, depreciation and amortization from continuing operations decreased 15.9% from the prior-year level to $214.3 million.
Total costs and expenses were $654.1 million, down 17.7% from the year-earlier figure of $795.1 million. Operating income in the reported quarter was $137.6 million, down 5.6% from the year-ago period.
Financial Screening
As of Jun 30, 2019, Buckeye Partners had cash and cash equivalents of $6.2 million compared with $1.8 million on Dec 31, 2018.
Long-term debt as of Jun 30, 2019 was $3,730 million, lower than $4,536.7 million on Dec 31, 2018.
Total capital expenditure in the first half of 2019 was $191.2 million, down 23.5% from $250 million invested in the year-ago period.
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
ONEOK Inc. (OKE - Free Report) reported second-quarter 2019 operating earnings of 75 cents per share, which surpassed the Zacks Consensus Estimate of 70 cents by 7.1%.
Magellan Midstream Partners, L.P. reported second-quarter 2019 adjusted earnings of $1.20 per unit, beating the Zacks Consensus Estimate of $1.07 by 12.1%.
Enterprise Products Partners L.P. (EPD - Free Report) reported second-quarter 2019 adjusted earnings per limited partner unit of 55 cents, which beat the Zacks Consensus Estimate of 52 cents.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>