Turnpage

Please visit our sponsors

RSS Feed
 

Current News & Press

 

Advertisement

The Bahamas Investor

News & Press Archives

 
The Bahamas Investor on facebookFollow The Bahamas Investor on TwitterSubscribe to RSS feeds from The Bahamas Investor
HOME > 
News & Press > 
Buckeye Q3 earnings diluted by expansion costs

Buckeye Partners' earnings per unit in the third-quarter 2013 missed the Zacks Consensus Estimate, but revenues beat. On a year-over-year basis, the partnership's bottom line was diluted due to new units and higher total costs and expenses including the BORCO storage expansion project on Grand Bahama, which is on schedule for completion. 

Source:
Date:
Updated:
Zacks/NASDAQ.com
Tuesday, December 17, 2013
Tuesday, December 17, 2013

Buckeye

Note: Any reference to ratings and its underlying recommendation does not reflect the opinion of The Bahamas Investor or any of its contributors.

December 16, 2013 (Zacks.com)–Buckeye Partners L.P.’s earnings per unit in third-quarter 2013 lagged the Zacks Consensus Estimate, while revenues beat the same. On a year-over-year basis, the partnership’s bottom line was diluted due to issue of new units and higher total costs and expenses.

Quarterly revenues improved from the prior-year level mainly on the back of higher contribution from Pipeline & Terminal, Energy Services and International Operations. The partnership’s Perth Amboy terminal project and Chicago storage facility secured lucrative long-term contracts.


Buckeye’s BORCO storage expansion project is also on schedule for completion. In addition, the partnership’s acquisition of several assets from Hess Corp. is expected to act as catalyst for future growth. However, the threat of service disruption might prove challenging. We are retaining our Neutral recommendation on the stock.

This is an excerpt from Zacks/NASDAQ.com as it appeared on December 17, 2013. For updates or to read the current version of this post in its entirety, please click here.

Continue reading this post >

Bahamas Financial Services Board will host a half-day seminar on the European Union’s Alternative Investment Fund Managers Directive January 13, 2014.

Breezes Resort & Spa – Bahamas has opened the Banana Boat, its new nautical themed restaurant. The new restaurant is the latest upgrade to the beachfront Nassau resort, which recently completed a refurbishment of its 400 guest rooms and suites and adding free in-room and property-wide Wi-Fi.

The Bahamas Investor
Administrative Links
  


  © 2017 ETIENNE DUPUCH JR PUBLICATIONS LTD