Quote:Crude oil pipelines and terminals operator Sunoco Logistics Partners L.P. (SXL) announced weaker-than-expected first-quarter 2011 results, adversely affected by soft performance from its ‘Refined Products Pipeline System’ segment on the back of significant unplanned refinery outages and lower demand across the system. The partnership’s diluted earnings per unit (“EPU”) came in at $1.08, below the Zacks Consensus Estimate of $1.31.
However, compared to the year-earlier period, Sunoco Logistics’ earnings per unit rose 1.9% (from $1.06 to $1.08) due to strong contributions from the crude pipeline system and terminals facilities. Revenues of $2,260.0 million were up 33.9% from the first quarter 2010 and also beat our projection by 5.8%.
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