El Paso Pipeline Partners, L.P. (EPB) reported first-quarter net income attributable to the company of $174 million or $0.58 per share, up from $149 million or $0.54 per share in the year-ago comparable quarter.
Limited Partners' net income before certain items for the quarter was $169 million or $0.60 per share, compared to $143 million or $0.54 per share in the prior year.
On average, 14 analysts polled by Thomson Reuters expected the company to earn $0.56 per share for the quarter. Analysts' estimates typically excludes special items.
Meanwhile, revenues for the latest quarter declined to $386 million from $390 million in the same period prior year, while six analysts expected revenues of $401.35 million for the quarter.
Looking forward, EPB said that it expects to generate almost $1.22 billion in earnings before DD&A in 2013.
The company also noted that it has increased its quarterly cash distribution per common unit to $0.62 payable on May 15, to unitholders of record on April 29, 2013.
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