Recap: Magellan Midstream Q3 Earnings

Recap: Magellan Midstream Q3 Earnings

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.

Posted In: BZI-RecapsEarnings