Magellan Midstream Partners (MMP) Tops Q4 EPS by 9c
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Magellan Midstream Reports Fourth-Quarter 2020 Financial Results
February 2, 2021 8:00 AM ESTTULSA, Okla., Feb. 2, 2021 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) today reported net income of $183.9 million for fourth quarter 2020 compared to $286.4 million for fourth quarter 2019. The decrease in fourth-quarter 2020 net income continued to be driven by reduced demand for refined products from the ongoing impact of COVID-19 and related restrictions, the negative impact of the lower commodity price environment on various aspects of the partnership's business as well as lower volumes and average rates on its crude oil pipelines.
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