Wednesday, Magellan Midstream Partners L.P. (MMP) said its fourth-quarter net income grew to $81.95 million or $0.77 per share from $81.06 million or $0.51 per share in the prior year period. On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of $0.75 per share for the quarter.
Total revenues for the quarter increased to $353.25 million from $301.6 million in the comparable period. Eight analysts estimated revenues of $284.84 million for the quarter.
Distributable cash flow or DCF for the quarter rose to $104.9 million from $91.8 million in the earlier year period.
The company currently expects 2010 distributable cash flow of around $345 million and is targeting annual distribution growth of 4% during 2010. Net income per limited partner unit is estimated to be $2.66, with first-quarter guidance of 65 cents. Fourteen analysts estimate earnings of $2.52 per share for the year 2010 and ten analysts estimate earnings of $0.55 per share for the first quarter of 2010.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.