Magellan Midstream (NYSE:MMP) reported its Q1 earnings results on Thursday, May 5, 2022 at 08:00 AM.
Here's what investors need to know about the announcement.
Earnings
Magellan Midstream beat estimated earnings by 5.77%, reporting an EPS of $1.1 versus an estimate of $1.04.
Revenue was up $13.63 million from the same period last year.
Past Earnings Performance
Last quarter the company beat on EPS by $0.14 which was followed by a 1.76% drop in the share price the next day.
Here's a look at Magellan Midstream's past performance:
| Quarter | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|
| EPS Estimate | 1.10 | 0.97 | 1.01 | 0.85 |
| EPS Actual | 1.24 | 1.09 | 1.38 | 1.09 |
| Revenue Estimate | 663.37M | 639.83M | 563.73M | 668.51M |
| Revenue Actual | 809.30M | 639.05M | 653.64M | 661.07M |
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Guidance
Magellan Midstream management provided guidance for FY 2022, expecting earnings between $4.35 and $4.35 per share.
To track all earnings releases for Magellan Midstream visit their earnings calendar here.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
