Breitburn Energy Partners Earnings: Here’s Why Investors are Excited Now

Breitburn Energy Partners LP (NASDAQ:BBEP) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 2.69%.

Breitburn Energy Partners LP Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 41.86% to $0.75 in the quarter versus EPS of $1.29 in the year-earlier quarter.

Revenue: Rose 6.78% to $216.95 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Breitburn Energy Partners LP reported adjusted EPS income of $0.75 per share. By that measure, the company beat the mean analyst estimate of $0.13. It beat the average revenue estimate of $145.23 million.

Quoting Management: Hal Washburn, CEO, said: “The Partnership delivered excellent financial and operating results including record quarterly production and Adjusted EBITDA above our guidance range. The active development programs for our legacy and newly acquired assets continued to yield strong results this quarter. We are also very pleased to have announced and closed the acquisition of oil properties and associated midstream assets in the Mid-Continent for approximately $876 million. The acquisition immediately adds significant production to our portfolio and an increased focus on liquids. We expect these assets to provide substantial accretion to distributable cash flow per unit to support distribution growth.”

Key Stats (on next page)…

Revenue increased 123.8% from $96.94 million in the previous quarter. EPS increased to $0.75 in the quarter versus EPS of $-0.38 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.16 to a profit $0.29. For the current year, the average estimate has moved up from a profit of $0.36 to a profit of $0.41 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)