NuStar GP Holdings, LLC (NSH: Quote) posted first-quarter net income of $11 million or $0.26 per unit compared to $10.2 million or $0.24 per unit last year.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.30 per share for the quarter. Analysts' estimates typically exclude special items.
The company said distributable cash flow available to unitholders for the first quarter rose to $21.9 million or $0.52 per unit from $20.6 million or $0.49 per unit in the prior year.
NuStar GP Holdings further stated that its board of directors has declared a distribution of $0.51 per unit.
by RTT Staff Writer
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