Magellan Midstream 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:
| Quarter | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|
| EPS Estimate | 1.05 | 1.04 | 1.10 | 0.97 |
| EPS Actual | 1.17 | 1.10 | 1.24 | 1.09 |
| Revenue Estimate | 697.05M | 716.21M | 663.37M | 639.83M |
| Revenue Actual | 788.60M | 674.70M | 809.30M | 639.05M |
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.
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