Buckeye Partners Earnings: Everything You Must Know Now

Buckeye Partners LP (NYSE:BPL) 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.

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Buckeye Partners LP Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 59.26% to $0.86 in the quarter versus EPS of $0.54 in the year-earlier quarter.

Revenue: Rose 6.79% to $1.35 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Buckeye Partners LP reported adjusted EPS income of $0.86 per share. By that measure, the company beat the mean analyst estimate of $0.71. It beat the average revenue estimate of $1.29 billion.

Quoting Management: “During the first quarter of 2013, we continued to generate excellent financial results, primarily due to the performance of our Pipelines & Terminals segment, which benefitted from the strong contribution from our terminal operations,” stated Clark C. Smith, President and Chief Executive Officer. “We also placed an additional 1.6 million barrels of leased storage capacity into service at BORCO during the quarter, and realized improved performance in the Energy Services segment.” Mr. Smith further noted, “As a result of Buckeye’s exceptional results over the past three quarters and the positive outlook we have for future periods, we are pleased to announce an increase in our quarterly cash distribution.”

Key Stats (on next page)…

Revenue increased 17.04% from $1.15 billion in the previous quarter. EPS decreased 10.42% from $0.96 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.78 to a profit $0.70. For the current year, the average estimate has moved down from a profit of $3.32 to a profit of $3.19 over the last ninety days.

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