NuStar Energy reports Q2 adjusted EPS 9c, consensus 26c

Reports Q2 revenue $378.33M, two estimates $384.35M. “I am pleased to report that we have delivered another quarter of positive results, and we are on track to achieve all of our strategic priorities this year,” said NuStar Chairman and CEO Brad Barron. “One of our top stated priorities is to continue to strengthen our balance sheet,” Barron said. “And in June and July, we took another big step forward in that regard by repurchasing another 8.1 million Series D preferred units, leaving only about one-third of the original issuance still outstanding. Although our second quarter earnings per unit were impacted by the premium paid to redeem these units, totaling $0.29 per unit, we are pleased to have significantly strengthened our balance sheet and are on track to redeem all of the remaining Series D units by the end of 2024, which is two years ahead of our original schedule.”