Vanguard Natural Resources Q2 Profit Declines

(RTTNews) - Vanguard Natural Resources (VNR) posted second-quarter net income available to common unitholders of $81.1 million, or $1.14 per unit, compared to $103.4 million, or $1.98 per unit in the comparable quarter last year.

Adjusted net income available to common unitholders for the latest second quarter was $19.1 million, or $0.27 per unit, up from $8.7 million, or $0.17 per unit in the prior year quarter.

Total revenues for the quarter rose to $175.33 million from $151.92 million in the year-ago period.

On average, analysts polled by Thomson Reuters expected the company to earn $0.32 per share on revenues of $123.54 million for the quarter. Analysts' estimates typically exclude special items.

On July 31, 2013, the company's board of directors approved an increase to its monthly cash distribution from $0.2050 to $0.2075 per common unit, effective with the July distribution expected to be paid on September 13, 2013.