Back to top

Image: Bigstock

Buckeye Partners' (BPL) Q1 Earnings Miss, Revenues Beat

Read MoreHide Full Article

Buckeye Partners, L.P. reported first-quarter 2018 earnings of 74 cents per unit, lagging the Zacks Consensus Estimate of 77 cents by 3.9%. Earnings were also lower than the year-ago figure of 88 cents by nearly 15.9%.

Total Revenues

In the quarter under review, Buckeye Partners’ total revenues came in at $1,183.1 million, beating the Zacks Consensus Estimate of $901 million by 31.3%.

Total revenues were up 22.1% year over year, owing to better performance of the Merchant Services and Domestic Pipelines & Terminals 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 quarter, the partnership’s adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) from continuing operations decreased 5.7% from the prior-year quarter to $261.7 million.

Total costs and expenses were $1,013.6 million, up 27.2% from a year ago. The partnership’s operating income was down 1.8% to $169.5 million.

Financial Screening

As of Mar 31, 2018, Buckeye Partners had cash and cash equivalents of $6.6 million compared with $2.1 million as of Dec 31, 2017.

Long-term debt as of Mar 31, 2018 was $4,587.9 million, lower than $4,658.3 million as of Dec 31, 2017.

Total capital expenditure in the first quarter was $116.9 million, up 18.9% from $98.3 million a year ago.

Other Oil &Gas Pipeline Releases

NuStar Energy L.P.’s (NS - Free Report) first-quarter 2018 earnings per limited partner unit of $1.15 missed the Zacks Consensus Estimate of $1.19 by 3.4%.

TC PipeLines, LP reported fourth-quarter 2017 earnings of 77 cents per unit, marginally missing the Zacks Consensus Estimate of 78 cents.

Magellan Midstream Partners L.P’s first-quarter adjusted earnings per unit came in at $1.05, beating the Zacks Consensus Estimate of $1.01 by 3.96%.

Zacks Rank

Buckeye Partners carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Today's Stocks from Zacks' Hottest Strategies

It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.

And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.

See Them Free>>


Unique Zacks Analysis of Your Chosen Ticker


Pick one free report - opportunity may be withdrawn at any time


NuStar Energy L.P. (NS) - $25 value - yours FREE >>

Published in