logo
Share SHARE
FONT-SIZE Plus   Neg

NuStar Energy LP Reports Drop In Q1 Net Income/Unit - Quick Facts

NuStar Energy LP (NS: Quote) Wednesday reported net income applicable to limited partners for the first quarter ended 31 March 2012 of $16.0 million, or $0.23 per unit, lower than net income of $19.4 million, or $0.30 per unit, reported for the same period last year.

On average, 12 analysts polled by Thomson Reuters expected the company to report earnings of $0.29 per share for the first quarter of 2012. Analysts estimate typically exclude special items.

Total revenues for the first quarter increased to $1.73 billion from $1.23 billion reported in the year-ago quarter.

Curt Anastasio, Chief Executive Officer and President of NuStar Energy L.P. said: "In our Asphalt and Fuels Marketing segment, improved results in our crude oil trading operation were more than offset by continued weak asphalt demand and high crude oil costs in our asphalt and San Antonio refinery operations. This caused our EBITDA results for the segment to be lower than the first quarter of 2011."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Warren Buffett's Berkshire Hathaway is reportedly planning its first ever European bond sale of 3 billion euros to take advantage of low interest rates in the region, traversing a path taken by a range of home companies in search of cheap funding options. The move comes as the European Central Bank's bond-buying stimulus program of 60 billion euros a month is imminent. Diary products company Prairie Farms is teaming up with Just Born, the maker of marshmallow candies PEEPS, to launch PEEPS flavored milk just in time for Easter. HKBN Ltd. has reportedly raised about $750 million after the broadband service provider priced its initial public offering at the top end of the price range. Private-equity group CVC Capital Partners, an unit of Carlyle Group L.P. (CG), Singapore's sovereign-wealth fund GIC Ltd., and other shareholders...
comments powered by Disqus
Follow RTT