Buckeye Partners Q2 Profit Plummets - Quick Facts

(RTTNews) - Buckeye Partners, L.P (BPL) Friday reported lower earnings for the second quarter, particularly reflecting higher operating expenses. Net income attributable to Buckeye Partners, L.P. plunged to $23.02 million or $0.20 per share from $76.43 million or $0.72 per share last year. On average, 11 analysts polled by Thomson Reuters expected earnings per share of $0.84 for the quarter. Analysts' estimates typically exclude one-time items. Total costs and expenses stood higher at $1.70 billion versus $879.61 million last year. Revenues however rose to $1.80 billion from $993.58 million a year ago. Analysts estimated revenues of $1.60 billion.