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Friday, November 3, 2017

Shell Midstream Partners (SHLX) reported earnings on Fri 3 Nov 2017 (b/o)

Pipeline transportation of crude oil company
** charts before earnings **


** charts after earnings **

Shell Midstream Partners beats by $0.03, beats on revs; co declared a cash distribution of $0.3180/limited partnership for Q3, a 4.6% increase 
  • Reports Q3 (Sep) earnings of $0.31 per share, $0.03 better than the Capital IQ Consensus of $0.28; revenues rose 39.0% year/year to $94.4 mln vs the $86.36 mln Capital IQ Consensus
  • Cash available for distribution was $83.9 million, compared to $88.7 million for the prior quarter, driven by better underlying performance offset by impacts from Hurricane Harvey
  • Total cash distribution declared was $77.4 million resulting in a 1.1x coverage ratio
  • "Underlying performance across Shell Midstream Partners in the third quarter was good: throughput volumes increased across the portfolio, distribution growth remained in line with our promise, and we achieved a 1.1x coverage ratio for the quarter. And these positive results were accomplished despite the impact of Hurricane Harvey, which as everyone knows, was a significant event for the Texas Gulf Coast" said John Hollowell, CEO of Shell Midstream Partners  

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