El Paso Pipeline Partners Q3 Profit Declines - Quick Facts

(RTTNews) - El Paso Pipeline Partners, L.P. (EPB) reported that its third-quarter net income attributable to EPB was $141 million or $0.40 limited partners' net income per unit, compared to $151 million or $0.55 limited partners' net income per unit in the comparable quarter last year.

Revenues for the quarter rose to $369.00 million, from $368.00 million in the prior year quarter.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.47 per share on revenues of $383.27 million for the quarter. Analysts' estimates typically exclude special items.

Further, El Paso Pipeline Partners increased its quarterly cash distribution per common unit to $0.65, payable on Nov. 14, 2013, to unitholders of record as of Oct. 31, 2013. This represents a 12 percent increase over the third quarter 2012 cash distribution per unit of $0.58 and is up from $0.63 per unit for the second quarter of 2013.

As previously announced, EPB expects to declare cash distributions of $2.55 per unit for 2013, a 13 percent increase over the $2.25 per unit it distributed for 2012.