NuStar Group (NSH) Announces In Line Earnings & A Distribution Increase

NuStar Group (NYSE: NSH) reported in line earnings and a small distribution increase earlier today.

The company reported net income of $0.42/unit compared to $0.82/unit last year on a 31% decrease in revenue. This decline was expected and in line with prior company guidance. NuStar stated the decline was due to decreasing asphalt margins.

The distribution was increased to $1.74/unit on an annualized basis.

NuStar closed up 0.44% to $24.86/unit on lower than normal volume.