SAN ANTONIO, Texas - NuStar Energy L.P. (NYSE: NS) on Oct. 28 announced its third quarter net income applicable to limited partners was $59.8 million, or $0.92 per unit, compared to $58.4 million, or $0.90 per unit, earned in the third quarter of 2010.
For the nine months ended Sept. 30, net income applicable to limited partners was $160.9 million, or $2.49 per unit, compared to $159.0 million, or $2.55 per unit, for the nine months ended Sept. 30, 2010.
Earnings before interest, taxes, depreciation and amortization (EBITDA) were $138.8 million for the third quarter of 2011 compared to $131.0 million for the third quarter of 2010. For the nine months ended Sept. 30, EBITDA was $391.7 million, higher than the $369.2 million for the nine months ended Sept. 30, 2010.
Distributable cash flow available to limited partners for the third quarter was $80.3 million, or $1.24 per unit, compared to 2010 third quarter distributable cash flow of $84.0 million, or $1.30 per unit. For the nine months ended Sept. 30, distributable cash flow available to limited partners was $244.8 million, or $3.79 per unit, compared to $214.0 million, or $3.40 per unit for the nine months ended Sept. 30, 2010.
NuStar also declared a distribution of $1.095 per unit, which would equate to $4.38 per unit on an annual basis. The third quarter 2011 distribution will be paid on Nov. 14, to holders of record as of Nov. 8. Distributable cash flow available to limited partners covers the distribution to the limited partners by 1.13 times for the third quarter of 2011.
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