NuStar Energy (NS) Q4 Earnings Beat Estimates, Soar Y/Y
Zacks Investment Research | Feb 05, 2020 11:26PM ET
NuStar Energy’s (NYSE:NS) fourth-quarter 2019 earnings and sales surpassed the Zacks Consensus Estimate. The partnership posted adjusted earnings per unit of 40 cents, higher than the Zacks Consensus Estimate of 38 cents. Strong contribution from pipeline and storage units can be attributed to the impressive performance.
Moreover, the bottom line skyrocketed 344.4% from the year-ago income of 9 cents a unit on the back of solid operations from the Pipeline segment amid expanded throughput volumes from crude oil pipelines.
Quarterly revenues of $399.6 million outpaced the Zacks Consensus Estimate of $381 million. However, the top line was 21.5% below the year-ago level of $509 million due to lower fuel sales.
While the firm’s revenues declined year over year, NuStar’s operating income increased from $86.6 million to $124.05 million in the quarter under review. This upside was driven by lower costs and expenses amounting to $275.6 million, down from the year-earlier level of $287.4 million. Notably, cost of product sales fell 29.9% from the prior-year quarter to $68.19 million.
NuStar Energy L.P. Price, Consensus and EPS Surprise
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