Magellan Midstream Partners Q2 Profit Down - Quick Facts

(RTTNews) - Magellan Midstream Partners LP (MMP) Thursday reported second-quarter profit of $153.6 million or $0.68 per share, up from $137.8 million or $0.61 per share in the same period last year.

Operating profit for the quarter was $184.5 million or $0.65 per share. On average, 17 analysts polled by Thomson Reuters expected the company to earn $0.54 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues improved to $449.53 million from $443.91 million last year. Analysts expected revenues of $461.79 million.

Looking ahead to the fiscal 2013, the company currently projects operating earnings of $2.50 per share, with third-quarter earnings of $0.48 per share. Analysts currently expect the company to earn $0.55 per share for the third quarter and $2.26 per share for the fiscal year 2013.