Buckeye Partners, L.P. (BPL) reported fourth quarter net income attributable to Buckeye Partners of $77.7 million, compared to $54.12 million last year. Earnings per limited partner unit were $1.17, compared to $0.89 in the same quarter a year earlier.
On average, nine analysts polled by Thomson Reuters expected the company to report earnings of $0.92 per share. Analysts' estimates typically exclude special items.
Total revenue grew to $578.87 million from $527.66 million in the same quarter a year earlier.
Six analysts estimated revenues of $441.33 million.
Buckeye also announced that its general partner, Buckeye GP LLC, declared a cash distribution of $0.9375 per LP unit for the quarter ended December 31, 2009. The distribution will be payable on February 26, 2010, to unitholders of record on February 16, 2010.
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