Access Midstream Partners Q2 Profit Declines

(RTTNews) - Access Midstream Partners, L.P. (ACMP) Tuesday reported second-quarter net income attributable to the company of $67.5 million, down from $69.2 million last year.

Limited partner interest in net income totaled $43.9 million, down from $63.3 million in the comparable quarter last year. Net income per limited partner unit was $0.18, same as last year.

On average, 12 analysts polled by Thomson Reuters expected the company to earn $0.30 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased to $292.93 million from $247.24 million last year, while eight analysts expected revenues of $301.39 million.

On July 24, 2014, the Board of Directors of the Partnership's general partner declared a quarterly cash distribution of $0.595 per unit for the 2014 second quarter, a $0.11, or 22.7%, per unit increase over the 2013 second quarter distribution and a $0.02, or 3.5%, per unit increase over the 2014 first quarter distribution. The distribution will be paid on August 14, 2014 to unitholders of record at the close of business on August 7, 2014.