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NuStar says distributable cash flow, EBITDA jumped in Q1

  • NuStar Energy (NS +0.9%) reports a mixed Q1 earnings picture but says Q1 distributable cash flow from continuing operations available to limited partners was $1/unit, vs. $0.73/unit DCF in the year-ago quarter; EBITDA from continuing operations was $126.7M vs. $94.1M a year ago.
  • Expects Q2 EPU and EBITDA results and coverage ratio to exceed year-ago results; sees higher EBITDA in its pipeline and fuels marketing segments due to increased pipeline throughputs and improved results in bunkering operations.
  • Backs FY 2014 pipeline segment EBITDA $40M-$60M higher than 2013, and expects to start covering distributions in H2 and for FY 2014.
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