NuStar GP Holdings 2Q earnings drop 49 percent

By Associated Press
July 25, 2008 | Comments (0)

Recs

0

Special Offer!

Jan 12, Motley Fool Pro will accept new members for 10 days only. Your spot is reserved! To learn more, click below.

Motley Fool Pro

NuStar GP Holdings LLC said Friday its second-quarter profit dropped by nearly half and widely missed Wall Street's estimates.

For the period ended June 30, the energy holding company earned $5.8 million, or 14 cents per unit, down 49 percent from the $11.2 million, or 26 cents per unit, booked in the year-ago period.

The company had guided for earnings of 10 cents per unit.

Analysts polled by Thomson Financial expected, on average, earnings of 30 cents per share.

Meanwhile, the company declared a quarterly distribution of 36 cents per unit payable on Aug. 15 to shareholders of record on Aug. 6.

Shares rose 34 cents to $19.14 in the afternoon session.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

DocumentId: 693187, ~/articles/articlehandler.aspx, 1/8/2009 4:03:06 AM

Sign up for FREE Motley Fool site access to keep reading:

“NuStar GP Holdings 2Q earnings drop 49 percent”

Signing up allows you to comment on articles and on the discussion boards.

It's completely FREE and will take only 10 seconds.

Privacy / Legal Information

We will use your email address only to keep you informed about updates to our web site and about other products and services that we think might interest you. The Motley Fool respects your privacy. Please read our Privacy Statement

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.