Magellan Midstream's Q1 adjusted EBITDA declines YOY, but tops estimates | MMP Message Board Posts


Magellan Midstream Partners L.P.

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Msg  64 of 68  at  5/4/2021 7:40:25 AM  by

jerrykrause


Magellan Midstream's Q1 adjusted EBITDA declines YOY, but tops estimates

 from SNL Energy Finance Daily
 
 

Magellan Midstream's Q1 adjusted EBITDA declines YOY, but tops estimates

 
 
Byline: S&P Global Market Intelligence
 
 

Magellan Midstream Partners LP on April 29 reported first-quarter adjusted EBITDA of $344.1 million, a drop from $380.5 million in the previous-year period.

The S&P Capital IQ consensus adjusted EBITDA estimate for the first quarter was $319.4 million.

The partnership's distributable cash flow in the first quarter was $276.5 million, a decrease from $306.5 million in the year-ago quarter.

Magellan Midstream reported a first-quarter net income of $221.3 million, a decline from $287.6 million a year earlier.

Magellan Midstream set a 2021 adjusted EBITDA guidance of approximately $1.38 billion, a 2021 net income guidance of $940 million and boosted its 2021 DCF guidance by $50 million to $1.07 billion. The partnership said it anticipates to spend roughly $75 million in 2021 and $15 million in 2022 to finish its current slate of expansion capital projects.

 


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