Magellan Midstream Partners LP (MMP) Q2 2022 Earnings Conference Call July 28, 2022 1:30 PM ET
Company Participants
Aaron Milford - President, CEO & Director
Jeffrey Holman - Principal Accounting Officer, Senior VP, CFO & Treasurer
Conference Call Participants
Theresa Chen - Barclays
Jeremy Tonet - JPMorgan
Keith Stanley - Wolfe Research
Praneeth Satish - Wells Fargo
Neel Mitra - BofA Securities
Michael Cusimano - Pickering Energy Partners
James Carreker - U.S. Capital Advisors
Michael Lapides - Goldman Sachs
Operator
Greetings, and welcome to the Magellan Midstream Partners Second Quarter Earnings Conference Call. During the presentation, all participants will be in a listen-only mode. Later, we will conduct a question-and-answer session [Operator Instructions] As a reminder, this conference is being recorded Thursday, July 28, 2022.
It is now my pleasure to turn the conference over to Aaron Milford, President and CEO. Please go ahead.
Aaron Milford
Hello, and thank you for joining us today to discuss Magellan's second quarter financial results. Before getting started, we must remind you that management will be making forward-looking statements as defined by the Securities and Exchange Commission. Such statements are based on our current judgments regarding the factors that could impact the future performance of Magellan, but actual outcomes could be materially different. You should review the risk factors and other information discussed in our filings with the Securities and Exchange Commission and form your own opinions about Magellan's future performance.
As we previously announced, we closed on the sale of our independent terminals network on June 8 and have been actively putting those proceeds to work. Including working capital adjustments, we received a total of $447 million for these assets and deployed $190 million during the second quarter into our equity buyback program, underscoring our commitment to maximizing long-term value for our investors. And today, we've continued our trend of solid
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