tiprankstipranks
Magellan Midstream reports Q4 adjusted EPS $1.34, consensus $1.29
The Fly

Magellan Midstream reports Q4 adjusted EPS $1.34, consensus $1.29

Q4 adjusted EPS excludes the 28c negative impact of the Double Eagle impairment. Reports Q4 revenue $809.3M, consensus $813.43M. "Magellan wrapped up the year with another solid quarter, supported by record refined products transportation volumes and financial results that exceeded our expectations. During 2022, we delivered over $1.3B of value to our investors via opportunistic equity repurchases and Magellan’s attractive cash distribution, marking 21 years of continuous annual distribution growth," said CEO Aaron Milford. "More than ever, world events during 2022 reinforced the criticality of the energy industry and the essential fuels our nation relies on every day," Milford continued. "Magellan remains committed to running our business responsibly, with a continued focus on safe and reliable operations, while maintaining our proven financial discipline and balanced capital allocation strategy to maximize long-term investor value."

Published first on TheFly

See today’s best-performing stocks on TipRanks >>

Read More on MMP:

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles