Last $61.35 USD
Change Today -1.69 / -2.68%
Volume 219.6K
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nustar energy lp (NS) Key Developments

NuStar Energy L.P. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter of Fiscal 2015 and Full Year Ending December 31, 2015

NuStar Energy L.P. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total revenues of $681,738,000 against $785,387,000 a year ago. Operating income was $81,346,000 against operating loss of $228,202,000 a year ago. Income from continuing operations before income tax expense was $55,353,000 against loss from continuing operations before income tax expense of $270,836,000 a year ago. Income from continuing operations was $54,869,000 against loss from continuing operations of $275,502,000 a year ago. Net income applicable to limited partners was $41,522,000 against net loss applicable to limited partners $368,327,000 a year ago. EBITDA from continuing operations was $136,031,000 against LBITDA from continuing operations of $192,314,000 a year ago Net income per unit applicable to limited partners was $0.54 against net loss per unit applicable to limited partners of $4.73 a year ago. Net income per unit applicable to limited partners from continuing operations was $0.55 against net loss per unit applicable to limited partners from continuing operations of $3.60 a year ago. Adjusted net income was $28,315,000. Adjusted net income /EPU applicable to limited partners was $16,564,000. For the full year, the company reported total revenues of $3,075,118,000 against $3,463,732,000 a year ago. Operating income was $346,901,000 against operating loss of $19,121,000 a year ago. Income from continuing operations before income tax expense was $224,970,000 against loss from continuing operations before income tax expense of $172,756,000 a year ago. Income from continuing operations was $214,169,000 against loss from continuing operations of $185,509,000 a year ago. Net income applicable to limited partners was $163,339,000 against net loss applicable to limited partners of $311,516,000 a year ago. EBITDA from continuing operations was $547,904,000 against $127,171,000 a year ago. Net income per unit applicable to limited partners was $2.10 against net loss per unit applicable to limited partners of $4.00 a year ago. Net income per unit applicable to limited partners from continuing operations was $2.14 against net loss per unit applicable to limited partners from continuing operations of $2.89 a year ago. Adjusted net income was $104,088,000. Adjusted net income /EPU applicable to limited partners was $58,837,000. Projected operating income for the year ending December 31, 2015 is expected to be $20,000 to $30,000. Projected EBITDA to be $20,000 to $30,000. Pipeline segment EBITDA should be $25 to $45 million higher than 2014, and storage segment EBITDA should be $10 to $30 million higher than 2014, while EBITDA in fuels marketing segment is expected to be in the range of $20 to $30 million. The company plans to spend $400 to $420 million on internal growth projects and acquisitions during 2015, while reliability capital spending is expected to be in the range of $40 to $50 million. First quarter EBITDA results in the pipeline segment should be higher than the first quarter 2014, and comparable to the fourth quarter of 2014. Increased throughput volumes from Phase I of its South Texas Crude Oil Pipeline System, which came online in the second quarter of 2014, should continue to benefit the segment. Storage segment EBITDA results in the first quarter should be higher than the first quarter of 2014 as well as the fourth quarter of 2014. Higher Corpus Christi North Beach storage throughput, as a result of Phase I of the South Texas Crude Oil expansion and incremental EBITDA associated with the recent acquisition of the Linden terminal, should benefit the segment. First quarter EBITDA results in the Fuels Marketing segment should be comparable to the first quarter of 2014 higher than the fourth quarter. During the first quarter of 2015, the company expects G&A expenses to be in the range of $23 million to $25 million, depreciation and amortization expense to be around $51 million, and interest expense to come in at approximately $32 million. Based on these projections, first quarter 2015 earnings per unit should be $0.50 to $0.60 per unit, while distributable cash flow from continuing operations per limited partner unit should be in the range of $1.15 to $1.25 per unit.

NuStar Energy Seeks Acquisitions

NuStar Energy L.P. (NYSE:NS) is looking for acquisition opportunities. "We plan to spend $400 to $420 million on internal growth projects and acquisitions during 2015, while reliability capital spending is expected to be in the range of $40 to $50 million," said Brad Barron, President and Chief Executive Officer of NuStar.

NuStar Energy L.P. to Report Q4, 2014 Results on Jan 30, 2015

NuStar Energy L.P. announced that they will report Q4, 2014 results at 9:00 AM, Central Standard Time on Jan 30, 2015

NuStar Energy L.P., NuStar GP Holdings, LLC, Q4 2014 Earnings Call, Jan 30, 2015

NuStar Energy L.P., NuStar GP Holdings, LLC, Q4 2014 Earnings Call, Jan 30, 2015

NuStar GP Holdings, LLC to Report Q4, 2014 Results on Jan 30, 2015

NuStar GP Holdings, LLC announced that they will report Q4, 2014 results at 9:00 AM, Central Standard Time on Jan 30, 2015

 

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NS

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Valuation NS Industry Range
Price/Earnings 29.4x
Price/Sales 1.6x
Price/Book 2.8x
Price/Cash Flow 13.8x
TEV/Sales 0.7x
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