Magellan Midstream Q1 Results Top Views

May 3, 2017

Shares of Magellan Midstream were up almost 1% Wednesday morning after the company reported Q1 results which beat expectations compiled by Capital IQ.Q1 adjusted EPS was $0.96 per share, topping the $0.91 per share mean estimate.

Reported EPS was $0.98 per share, up from $0.91 per share in the year-ago quarter. Revenues rose to $642.1 million from $519.8 million in the year-ago quarter and beat the $554.2 million mean estimate. For FY17, the company expects EPS of $3.75 per share, below the $3.85 per share consensus. It continues to expect distributable cash flow of $1.0 billion. Q2 EPS is forecast at $0.85 per share, also below the $0.92 per share average estimate.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

By Bryan Smith

Free Email Newsletter


Enter your email address below to get the latest news and analysts' ratings for your stocks with MarketBeat's FREE daily email newsletter: