Magellan Midstream Partners, L.P. today reported record quarterly and annual results for operating profit, net income, net income per limited partner unit and distributable cash flow.
Fourth-quarter 2007 operating profit of $84.8 million represented a 20% increase compared to $70.4 million for fourth quarter 2006. For the year ended Dec. 31, 2007, operating profit grew 21% to $300.3 million from $249.1 million in the comparable 2006 period.
Net income grew to $72.2 million during fourth quarter 2007, which is a 28% increase over the $56.5 million reported for fourth quarter 2006. For the year ended Dec. 31, 2007, net income grew 26% to $242.8 million from $192.7 million in the corresponding 2006 timeframe.