Magellan Midstream Partners (MMP) Misses Q4 EPS by 15c
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Magellan Midstream Reports Fourth-Quarter 2018 Financial Results
January 31, 2019 8:30 AM ESTTULSA, Okla., Jan. 31, 2019 /PRNewswire/ --Â Magellan Midstream Partners, L.P. (NYSE: MMP) today reported net income of $314.1 million for fourth quarter 2018 compared to $237.9 million for fourth quarter 2017. The increase in current year net income was largely driven by higher profits from the partnership's commodity-related activities due to favorable mark-to-market (MTM) adjustments for related hedge positions. The 2018 results also were negatively impacted by a $49.1 million impairment to the partnership's ammonia pipeline system. Magellan has made the decision to discontinue commercial operations of the ammonia pipeline beginning in late 2019 due to the system's... More
