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Holly Energy Partners down 1% post Q2 results miss

Aug. 01, 2018 10:12 AM ETHolly Energy Partners, L.P. (HEP) StockBy: Vandana Singh, SA News Editor
  • Holly Energy Partners (NYSE:HEP -1.1%) reports Q2 revenue of $118.8M (+8.8% Y/Y) primarily attributable to acquisition of the remaining interest in SLC and Frontier pipelines, which led to an increase in overall pipeline volumes of 24%
  • EBITDA margin increased marginally 18bps to 68.9%.
  • Distributable cash flow was $65.2M, +7% Y/Y.
  • George Damiris, CEO of HEP said “Looking forward, we expect the continued strength in crude gathering, combined with contractual tariff escalators effective in the third quarter, will drive a strong rebound in earnings growth and our distribution coverage ratio, which we expect to be greater than 1.0x for the second half of the year.”
  • Previously: Holly Energy misses by $0.02, misses on revenue (Aug. 1)

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