Magellan Midstream Partners Q3 net income down

Fri. November 06, 2009; Posted: 09:11 AM

Nov 06, 2009 (Datamonitor via COMTEX) -- MMP | Quote | Chart | News | PowerRating -- Magellan Midstream Partners has reported a net income of $54.2 million, or $0.43 per share, for the third quarter of 2009, compared to $69.4 million, or $0.46 per share, for the same period of 2008.

The company has reported total revenues of $239.77 million for the third quarter of 2009, compared to $292.19 million for the same quarter of 2008.

Magellan Midstream Partners has reported a net income of $144.52 million, or $1.11 per share, for the first nine months of 2009, compared to $249.04 million, or $1.70 per share, for the corresponding period of 2008.

Year-to-date total revenues were $660.92 million, compared to $912.03 million for the first nine months of 2008.

Don Wellendorf, CEO of Magellan Midstream Partners, said: "Magellan continues to benefit from higher results from our core transportation and terminals assets even during the current challenging economic environment. Record quarterly gasoline shipments and record results from our terminals segment, driven in part from expansion projects, have helped to offset the negative impact of lower commodity prices and lower diesel fuel shipments this year."

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For full details on Magellan Midstreams Ptnrs Lp (MMP) click here. Magellan Midstreams Ptnrs Lp (MMP) has Short Term PowerRatings of 6. Details on Magellan Midstreams Ptnrs Lp (MMP) Short Term PowerRatings is available at This Link.

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