Buckeye Partners Q3 Earnings Grow, But Miss Estimates - Quick Facts

(RTTNews) - Buckeye Partners, L.P. (BPL) Friday reported a rise in earnings as well as revenues for the third quarter.

Net earnings increased to $102.94 million, from $77.25 million a year earlier, the pipeline company said in a statement.

Per-share earnings were $0.86, up from $0.72 last year, but were shy of the $0.88 average estimate of ten analysts polled by Thomson-Reuters. Analysts' estimates typically exclude one-time items.

Revenues increased to $1.57 billion, from $1.07 billion last year. Analysts expected revenues of $1.41 billion.

The company said its general partner has recommended a cash distribution of $1.125 per limited partner unit, payable on November 25 to unitholders of record on November 18.