Oiltanking Partners LP Earnings: Here’s Why the Stock is Rising 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. Shares are up 1.16%.
Oiltanking Partners LP Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 20% to $0.48 in the quarter versus EPS of $0.40 in the year-earlier quarter.
Revenue: Rose 17.21% to $40.19 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Oiltanking Partners LP reported adjusted EPS income of $0.48 per share. By that measure, the company beat the mean analyst estimate of $0.41. It beat the average revenue estimate of $37.13 million.
Quoting Management: “We are pleased to again deliver record revenue and Adjusted EBITDA in the first quarter of 2013,” said Anne-Marie Ainsworth, President and Chief Executive Officer of the Partnership’s general partner. “Our solid results were driven by significant increases in capacity, dock utilization and hydrocarbon movement at our facilities. Our terminals’ throughput volumes were approximately 80 million barrels of crude oil, refined products and liquefied petroleum gas during first quarter of 2013. As our customers’ need for additional storage and handling services has continued to expand, we are successfully executing our organic growth plans to generate higher cash flow.”
Key Stats (on next page)…