NuStar Energy L.P. Presents at UBS MLP One-on-One Conference, Jan-12-2015
Dec 10 14
NuStar Energy L.P. Presents at UBS MLP One-on-One Conference, Jan-12-2015 . Venue: St. Regis Deer Valley, Park City, Utah, United States. Speakers: Chris Russell, Vice President of Investor Relations for NuStar GP LLC and Treasurer of Investor Relations for NuStar GP LLC, Thomas R. Shoaf, Chief Financial Officer of NuStar GP LLC and Executive Vice President of NuStar GP LLC, Tim Delagarza, Manager, Investor Relations.
NuStar Energy L.P. Declares Dividend for the Third Quarter of 2014, Payable on November 14, 2014; Reports Unaudited Consolidated Earnings and Production Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Fourth Quarter and Full Year of 2014 and 2015
Oct 31 14
NuStar Energy L.P. announced that its board of directors has declared a third quarter 2014 distribution of $1.095 per unit. The third quarter 2014 distribution will be paid on November 14, 2014, to holders of record as of November 10, 2014.
The company reported unaudited consolidated earnings and production results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total revenues of $794,422,000 against $778,145,000 a year ago. Operating income was $95,098,000 against $68,751,000 a year ago. Income from continuing operations before income tax expense was $63,452,000 against $35,787,000 a year ago. Income from continuing operations was $59,117,000 against $35,682,000 a year ago. Net income was $61,948,000 against $33,236,000 a year ago. Net income applicable to limited partners was $50,074,000 or $0.61 earnings per unit against $21,924,000 or $0.31 earnings per unit a year ago. EBITDA from continuing operations was $145,058,000 against $111,027,000 a year ago. DCF from continuing operations available to limited partners for the quarter was $1.13 per unit, 28% higher than the $0.88 per unit generated for the same period last year.
For the nine months, the company reported total revenues of $2,393,380,000 against $2,678,345,000 a year ago. Operating income was $265,555,000 against $209,081,000 a year ago. Income from continuing operations before income tax expense was $169,617,000 against $98,080,000 a year ago. Income from continuing operations was $159,300,000 against $89,993,000 a year ago. Net income was $156,984,000 against $90,609,000 a year ago. Net income applicable to limited partners was $121,817,000 or $1.59 earnings per unit against $56,811,000 or $0.71 earnings per unit a year ago. EBITDA from continuing operations was $411,873,000 against $319,485,000 a year ago.
For the quarter, the company reported total throughput of 986,059 (barrels/day) against 884,050 (barrels/day) a year ago.
For the nine months, the company reported total throughput of 922,883 (barrels/day) against 839,243 (barrels/day) a year ago.
The company provided earnings guidance for the fourth quarter and full year of 2014 and 2015. For the quarter, EBITDA results in pipeline segment are expected to be higher than last year's fourth quarter, while fourth quarter EBITDA results in storage segment should be comparable to last year's fourth quarter adjusted EBITDA results. EBITDA results in fuels marketing segment should be comparable to the fourth quarter of 2013. Fourth quarter earnings per unit should be $0.40 to $0.50 per unit, while the distributable cash flow from continuing operations per limited partner unit should be in the range of $1.05 to $1.15 per unit.
For the full-year 2014, the company still expects pipeline segment EBITDA to be $40 million to $60 million higher than 2013 and storage segment adjusted EBITDA to be comparable to 2013. The company continues to expect fuels marketing segment to generate EBITDA in the range of $20 to $30 million. The company still expects to spend $330 million to $350 million on internal growth projects during 2014, the majority of which will be spent on projects in pipeline segment. 2014 reliability capital spending has been reduced slightly to reflect the delay of some maintenance spending into 2015, and is now expected to be about $30 million. Based on these projections, the company expects to cover distributions for the full-year 2014.
Looking ahead to 2015, the company expects pipeline segment's EBITDA should increase by an additional $25 million to $45 million next year, mainly due to the increased throughputs associated with the expected completion of Phase 2 of the South Texas Crude Oil Pipeline expansion and the NuStar 12-inch pipeline between Mont Belvieu and Corpus Christi. The company expects storage segment and fuels marketing segment results to be comparable to 2014. With regard to capital spending projections for 2015, the company plans to spend $400 million to $420 million on strategic capital spending and $35 million to $45 million on reliability capital spending.
NuStar Energy L.P. Presents at Wells Fargo Securities Research, Economics & Strategy 2014 Energy Symposium, Dec-09-2014 08:40 AM
Oct 25 14
NuStar Energy L.P. Presents at Wells Fargo Securities Research, Economics & Strategy 2014 Energy Symposium, Dec-09-2014 08:40 AM. Venue: The Waldorf Astoria, 301 Park Avenue, New York, NY 1002, United States. Speakers: Bradley C. Barron, Chief Executive Officer of NuStar GP LLC, President of NuStar GP LLC and Director of NuStar GP LLC.