Oiltanking Partners Earnings: Here’s Why Investors are Ambivalent Now
Oiltanking Partners LP (NYSE:OILT) 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.
Oiltanking Partners LP Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 48.78% to $0.61 in the quarter versus EPS of $0.41 in the year-earlier quarter.
Revenue: Rose 53.99% to $52.08 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Oiltanking Partners LP reported adjusted EPS income of $0.61 per share. By that measure, the company beat the mean analyst estimate of $0.49. It beat the average revenue estimate of $41.16 million.
Quoting Management: “We are pleased to have achieved a significant milestone this quarter as throughput volumes exceeded one million barrels per day of crude oil, refined products and LPGs,” said Anne-Marie Ainsworth, President and Chief Executive Officer of the Partnership’s general partner. “In addition, our expansion projects and customer agreements allowed us to generate record revenue and Adjusted EBITDA in the second quarter.”
Key Stats (on next page)…