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Last $52.80 USD
Change Today +0.14 / 0.27%
Volume 211.7K
As of 8:04 PM 09/3/15 All times are local (Market data is delayed by at least 15 minutes).

tesoro logistics lp (TLLP) Key Developments

Tesoro Logistics LP Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Year 2015

Tesoro Logistics LP reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company has posted total revenue of $275 million against $133 million a year ago. Operating income was $109 million against $48 million a year ago. Net income attributable to partners was $66 million or $0.60 diluted per share against $34 million or $0.45 diluted per share a year ago. EBITDA was $154 million against $67 million a year ago. Adjusted EBITDA was $155 million against $70 million a year ago. Total capital expenditures were $77 million against $48 million a year ago. For the six months, the company has posted total revenue of $538 million against $260 million a year ago. Operating income was $217 million against $108 million a year ago. Net income attributable to partners was $130 million or $1.23 diluted per share against $77 million or $1.14 diluted per share a year ago. EBITDA was $309 million against $144 million a year ago. Adjusted EBITDA was $323 million against $145 million a year ago. Total capital expenditures were $143 million against $74 million a year ago. For the year 2015, the company is maintaining full year 2015 target to invest growth capital of approximately $380 million net of reimbursements. The company continues to estimate full year maintenance capital of $40 million net of reimbursements. Overall, the company now anticipates full year 2015 EBITDA $640 million to $680 million, excluding any dropdown opportunities. This expectation reflects the performance of Rockies natural gas business, the growth in crude oil and refined products operations and inventory of high returns organic growth projects.

Tesoro Logistics Mulls Acquisitions

Tesoro Logistics LP (NYSE:TLLP) has filed a shelf registration in the amount of $750 million. The company will use the net proceeds from the sale of the securities covered by this prospectus for general partnership purposes, which may include debt repayment, future acquisitions, capital expenditures and additions to working capital. Phil Anderson, President, said, "We will continue to focus very hard on organic growth. It will be third-party strategic acquisitions, as well as dropdowns."

Tesoro Logistics LP Declares Second Quarter Cash Distribution Payable on August 14, 2015

Tesoro Logistics LP announced the declaration of its quarterly cash distribution for the second quarter 2015 of $0.7225 per limited partnership unit, or $2.89 on an annualized basis. This distribution represents a 4% increase over the quarterly distribution of $0.6950 per unit ($2.78 per unit on an annualized basis) paid in May 2015. The second quarter distribution will be paid August 14, 2015, to all unitholders of record as of August 3, 2015.

Tesoro Logistics LP to Report Q2, 2015 Results on Aug 05, 2015

Tesoro Logistics LP announced that they will report Q2, 2015 results After-Market on Aug 05, 2015

Tesoro Logistics LP, Q2 2015 Earnings Call, Aug 06, 2015

Tesoro Logistics LP, Q2 2015 Earnings Call, Aug 06, 2015

 

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Industry Analysis

TLLP

Industry Average

Valuation TLLP Industry Range
Price/Earnings 41.3x
Price/Sales 4.8x
Price/Book 2.8x
Price/Cash Flow 21.0x
TEV/Sales 1.9x
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