Sunoco Logistics Partners Earnings: Here’s Why Shares are Down Now
Sunoco Logistics Partners L.P. (NYSE:SXL) delivered a profit and beat Wall Street’s expectations, BUT 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 0.13%.
Sunoco Logistics Partners L.P. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 41.56% to $1.09 in the quarter versus EPS of $0.77 in the year-earlier quarter.
Revenue: Rose 2.87% to $3.51 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Sunoco Logistics Partners L.P. reported adjusted EPS income of $1.09 per share. By that measure, the company beat the mean analyst estimate of $0.82. It missed the average revenue estimate of $3.56 billion.
Quoting Management: “The first quarter was a record financially for our Partnership,” said Michael J. Hennigan, president and chief executive officer. “We reached new quarterly highs in both Adjusted EBITDA and distributable cash flow. We were pleased that market conditions were favorable for our business.”
Key Stats (on next page)…