Buckeye Partners Down 6% on Weak Q1 Results
Buckeye Partners (NYSE: BPL) is trading lower on the session following its Q1 earnings announcement. The company reported an EPS of $0.54, which may not compare to $0.74 estimates and revenues $1.26 billion vs $1.20 billion estimates.
Clark C. Smith, President and Chief Executive Officer stated: "The first quarter of 2012 was challenging for Buckeye as the mild winter and softness in demand for refined products, combined with the short-term negative impact of our Energy Services segment exiting its Midwest positions, adversely affected our financial performance."
Buckeye Partners is currently trading at $54.01, a loss of $3.51 or 6.10%.
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