NuStar Energy’s net income declines

SAN ANTONIO — Pipeline partnership NuStar Energy LP on Friday reported second-quarter 2015 net income applicable to limited partners of $42.4 million, or 54 cents a unit, compared with $43.6 million, or 56 cents a unit, for the same period a year ago.

That missed analysts’ estimates that the San Antonio-based master limited partnership would earn 57 cents a unit in the quarter.

Revenue in the quarter totaled $570.6 million compared with $749.7 million for the second quarter of last year. Analysts had expected revenue of $602 million.

“Despite an unprecedented amount of rainfall in the South Texas area and operational issues at third party gas processing plants during the second quarter, we averaged a record of 193,000 barrels per day of Eagle Ford throughput volumes into our Corpus Christi North Beach facility and ultimately across our docks,” CEO Brad Barron said in a statement.

“These volumes, which benefited both our pipeline and storage segments, helped us achieve a strong quarterly distribution coverage ratio of 1.08 times.”

vvaughan@express-news.net

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