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Market Overview

Recap: Magellan Midstream Q4 Earnings

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Shares of Magellan Midstream (NYSE:MMP) rose 0.2% in pre-market trading after the company reported Q4 results.

Quarterly Results

Earnings per share decreased 28.24% over the past year to $0.94, which beat the estimate of $0.85.

Revenue of $586,324,000 decreased by 20.84% year over year, which missed the estimate of $639,040,000.

Looking Ahead

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Details Of The Call

Date: Feb 02, 2021

Time: 01:30 PM

ET Webcast URL: https://www.magellanlp.com/investors/webcasts.aspx

Technicals

Company's 52-week high was at $62.53

Company's 52-week low was at $22.02

Price action over last quarter: Up 22.33%

Company Overview

Magellan Midstream Partners is a master limited partnership that operates pipelines and storage terminals in the Central and Eastern United States. Its assets transport, store, and distribute refined petroleum products and crude and earn a fee-based stream of cash flows. Assets include the country's longest petroleum pipeline network, terminal storage, and several crude oil pipelines. Refined products make about 60% of operating margin, with the remainder mainly crude oil pipelines.

 

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Posted-In: BZI-RecapsEarnings News

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