NuStar Energy LP (NS) 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
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