Buckeye Partners, L.P. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the period, the company reported total revenue of $1,344,961,000 against $1,259,439,000 for the same period in the last year. Operating income was $119,149,000 against $80,734,000 for the same period in the last year. Income before taxes was $90,630,000 against $53,804,000 for the same period in the last year. Net income attributable to the company was $89,341,000 or $0.86 per diluted share against $51,959,000 or $0.54 per diluted share for the same period in the last year. Adjusted EBITDA was $158,849,000 against $114,987,000 for the same period in the last year. Total capital additions were $67,186,000 against $74,313,000 for the same period in the last year. Maintenance capital expenditures were $5,133,000 against $13,110,000 for the same period in the last year. During the first quarter of 2013, the company continued to generate excellent financial results, primarily due to the performance of its Pipelines & Terminals segment, which benefitted from the strong contribution from its terminal operations. The increase in revenues is primarily attributable to the growth revenues from new fuel oil business in international segment. This decrease in maintenance capital is primarily timing-related, as the company is impacted by the weather and, to some extent, the availability of contractors due to the aftermath of sandy. For the year 2013, the company expects to spend $60 million to $80 million of maintenance capital. The company estimates that the full year return capital spending for 2013 will be $280 million to $340 million. The company announced that its general partner declared a cash distribution of $1.05 per limited partner (LP) unit for the quarter ended March 31, 2013. Class B unitholders will not receive a distribution of cash, but instead will be issued additional Class B units pursuant to Buckeye's partnership agreement. The distribution will be payable on May 31, 2013 to unitholders of record on May 16, 2013. This cash distribution represents a 1.2% increase over the $1.0375 per LP unit distribution declared for the first quarter of 2012.

Buckeye Partners, L.P. Presents at 2013 MLP Investor Conference, May-21-2013 . Venue: Hilton Stamford Hotel & Executive Meeting Center, 1 First Stamford Place, Stamford, CT 06902, United States.

Buckeye Partners, L.P., Q1 2013 Earnings Call, May 03, 2013