Magellan Midstream Partners LP reported un-audited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported operating profit of $142.5 million compared to $122.8 million for first quarter 2012. Net income was $113.0 compared to $93.5 million for first quarter 2012. Diluted net income per limited partner unit was 50 cents in first quarter 2013 versus 41 cents in the corresponding 2012 period. Diluted net income per unit excluding mark-to-market (MTM) commodity-related pricing adjustments, a non-generally accepted accounting principles (non-GAAP) financial measure, of 51 cents for first quarter 2013 was higher than the 45-cent guidance provided by management in early Feb. due to stronger refined products transportation volumes and additional product overages. The company reported total revenues of $432.4 million compared to $493.5 million, income before provision for income taxes of $113.7 million compared to $94.1 million and adjusted EBITDA of $166.3 million compared to $165.9 million for the last year. Net debt as on March 31, 2013 was $2.1 billion. The company provided earnings guidance for the year 2013. For the year, the company expects net income of $510,000,000, depreciation and amortization of $150,000,000, adjusted EBITDA of $775,000,000 and distributable cash flow of $580,000,000 or $2.56 per share. Net income per limited partner unit is estimated to be $2.25 for 2013. Net income per limited partner unit for second-quarter estimated 52 cents.

The board of directors of Magellan Midstream Partners, L.P. has increased the partnership's quarterly cash distribution to 50.75 cents per unit for the period Jan. 1 through March 31, 2013, representing the 44th distribution increase since its initial public offering in 2001. The first-quarter 2013 distribution is 21% higher than the first-quarter 2012 distribution of 42 cents per unit and represents a 2% increase over the fourth-quarter 2012 distribution of 50 cents. The new distribution, which equates to $2.03 per unit on an annualized basis, will be paid May 15 to unit holders of record at the close of business on May 8.

Magellan Midstream Partners LP Presents at 2013 MLP Investor Conference, May-23-2013 08:30 AM. Venue: Hilton Stamford Hotel & Executive Meeting Center, 1 First Stamford Place, Stamford, CT 06902, United States. Speakers: John D. Chandler, Chief Financial Officer of Magellan Gp Llc, Principal Accounting Office of Magellan Gp Llc, Senior Vice President of Magellan Gp Llc and Treasurer of Magellan Gp Llc.

Magellan Midstream Partners LP, Q1 2013 Earnings Call, May 02, 2013

Magellan Midstream Partners LP announced that they will report Q1, 2013 results at 9:00 AM, Eastern Standard Time on May 02, 2013