Breitburn Energy Partners LP Earnings: Here’s Why Shares are Down Now

Breitburn Energy Partners LP (NASDAQ:BBEP) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.56%.

Breitburn Energy Partners LP Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased to $-0.13 in the quarter versus EPS of $-0.51 in the year-earlier quarter.

Revenue: Rose 60.77% to $117.6 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Breitburn Energy Partners LP reported adjusted EPS loss of $0.13 per share. By that measure, the company missed the mean analyst estimate of $0.23. It missed the average revenue estimate of $133.03 million.

Quoting Management: Hal Washburn, CEO, said: “The Partnership had an exceptional year with record production, record Adjusted EBITDA, sequential distribution growth, and the completion of seven acquisitions in Texas, California, and Wyoming. We are very pleased to have exceeded our acquisition target of $300 million to $500 million for the year by completing over $600 million in acquisitions which were primarily oil. We also established a significant presence in the Permian Basin and greatly expanded the organic growth opportunities in our portfolio. The Partnership is very well positioned to execute on its 2013 capital program and its growth through acquisitions strategy.”

Key Stats (on next page)…