HOUSTON, Feb. 8, 2013 (GLOBE NEWSWIRE) -- Buckeye Partners, L.P. ("Buckeye") (NYSE:BPL) today reported its financial results for the fourth quarter and full year 2012. Buckeye reported net income attributable to Buckeye's unitholders for the fourth quarter of 2012 of $94.9 million, or $0.96 per diluted unit (excluding a non-cash impairment charge of $60.0 million related to the ceasing of operations of a portion of Buckeye's NORCO pipeline system in January 2013), compared to net income attributable to Buckeye's unitholders for the fourth quarter of 2011 of $59.7 million, or $0.64 per diluted unit. Buckeye's Adjusted EBITDA (as defined below) for the fourth quarter of 2012 was $172.0 million compared to $121.5 million for the fourth quarter of 2011. Operating income for the fourth quarter of 2012, excluding the impairment charge, was $122.4 million compared to $87.7 million for the fourth quarter of 2011. Including the impairment charge, net income attributable to Buckeye's unitholders and operating income for the fourth quarter of 2012 were $35.0 million, or $0.35 per diluted unit, and $62.5 million, respectively.
Buckeye Partners, L.P. Reports 2012 Fourth Quarter And Full Year Earnings Results And Declares Cash Distribution
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.