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Last $66.67 USD
Change Today -0.055 / -0.08%
Volume 30.1K
NS On Other Exchanges
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As of 11:06 AM 04/28/15 All times are local (Market data is delayed by at least 15 minutes).

nustar energy lp (NS) Key Developments

NuStar Energy L.P. Declares First Quarter 2015 Distribution, Payable on May 14, 2015; Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Fiscal 2015

NuStar Energy L.P. announced that its board of directors has declared a first quarter 2015 distribution of $1.095 per unit. The first quarter 2015 distribution will be paid on May 14, 2015 to holders of record as of May 8, 2015. The company reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenues were $554.944 million against $849.213 million a year ago. Operating income was $99.281 million against $81.103 million a year ago. Income from continuing operations before income tax expense was $129.512 million against $47.113 million a year ago. Income from continuing operations was $127.125 million against $42.996 million a year ago. Net income was $127.899 million against $39.637 million a year ago. Net income applicable to limited partners was $114.536 million against $28.144 million a year ago. Net income per unit applicable to limited partners from continuing operations was $1.46 against $0.40 a year ago. Net income per unit applicable to limited partners was $1.47 against $0.36 a year ago. EBITDA from continuing operations was $214.006 million against $126.705 million a year ago. Adjusted net income applicable to limited partners was $59.385 million or $0.76 per unit. Adjusted EBITDA from continuing operations was $157.729 million. Distributable cash flow (DCF) from continuing operations available to limited partners was $106.8 million, or $1.37 per unit, compared to 2014 first quarter DCF from continuing operations available to limited partners of $77.9 million, or $1.00 per unit. Due to higher than expected first quarter throughputs for South Texas Crude Oil Pipeline System, the company now anticipates 2015 pipeline segment EBITDA to be $35 to $55 million higher than 2014. The storage segment EBITDA is still expected to be $10 to $30 million higher than 2014, while fuels marketing segment is still projected to be in the range of $20 to $30 million. With regard to capital spending for 2015, the projected strategic capital spending remains at $400 to $420 million, while 2015 reliability capital spending is now projected to be in the $45 to $55 million range.

NuStar Energy L.P. Extends Naphtha Agreement with PEMEX for Further 10-Year

NuStar Energy LP declared that it has inked a new 10-year deal with PMI, an affiliate of Petroleos Mexicanos, to extend its earlier 10-year contract signed in 2005 to transport and store naphtha, a gasoline blending component, for PMI. As per the agreement, naphtha produced at Pemex's Reynosa-Burgos complex in northern Mexico is transported via NuStar's Burgos Valley pipeline system to NuStar's terminal in Edinburg.

NuStar Energy L.P. to Report Q1, 2015 Results on Apr 22, 2015

NuStar Energy L.P. announced that they will report Q1, 2015 results at 9:00 AM, Central Standard Time on Apr 22, 2015

NuStar Energy L.P., NuStar GP Holdings, LLC, Q1 2015 Earnings Call, Apr 22, 2015

NuStar Energy L.P., NuStar GP Holdings, LLC, Q1 2015 Earnings Call, Apr 22, 2015

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.

 

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Valuation NS Industry Range
Price/Earnings 20.8x
Price/Sales 1.9x
Price/Book 3.1x
Price/Cash Flow 11.6x
TEV/Sales 0.8x
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