NuStar Energy foresees improved Q4 and 2014 results

NuStar Energy (NS +5.5%) reported Q3 earnings and revenue below analyst expectations, but an upbeat outlook is sending shares higher.

Q4 EBITDA for all three NS segments should be higher than last year’s Q4, the company says, adding that its pipeline segment EBITDA should be $60M-$70M higher than last year.

Looking ahead to 2014, increased crude oil throughputs in the Eagle Ford region should increase the pipeline segment's EBITDA by an additional $40M-$60M; NS says it expect to fully cover its distribution in 2014.

Says it is in advanced talks with asphalt joint venture partner Lindsay Goldberg to exit its stake, which NS says would allow it to materially reduce its $250M credit facility and $150M of credit support.

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