Midstream - Pipelines | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update
Magellan Exits 2013 with Strong Earnings; Pulls In $223.5MM in 4Q
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Magellan Midstream Partners, L.P. reported record quarterly operating profit of $223.5 million for fourth quarter 2013, an increase of $40.8 million, or 22%, compared to $182.7 million for fourth quarter 2012.
Distributable cash flow (DCF), a non-GAAP financial measure that represents the amount of cash generated during the period that is available to pay distributions, increased to a quarterly record of $236.6 million for fourth quarter 2013, or 32% higher than the fourth-quarter 2012 DCF of $179.4 million.
Beginning in 2013, the partnership reorganized its reporting segments to reflect strategic changes in its business, particularly its increasing crude oil activities. Historical financial results have been restated to conform to the new segment presentation. An analysis by segment…
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