Magellan Midstream (NYSE:MMP) reported its Q3 earnings results on Thursday, October 27, 2022 at 08:00 AM.

Here's what investors need to know about the announcement.

Earnings

Magellan Midstream beat estimated earnings by 14.16%, reporting an EPS of $1.29 versus an estimate of $1.13.

Revenue was up $237.05 million from the same period last year.

Past Earnings Performance

Last quarter the company beat on EPS by $0.12 which was followed by a 0.57% increase in the share price the next day.

Here's a look at Magellan Midstream's past performance:

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Guidance

Magellan Midstream management provided guidance for FY 2022, expecting earnings between $5.25 and $5.25 per share.

To track all earnings releases for Magellan Midstream visit their earnings calendar here.

This article was generated by Benzinga's automated content engine and reviewed by an editor.