Magellan Midstream Partners, L.P. (MMP) Income Statement Analysis

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Complete financial analysis of Magellan Midstream Partners, L.P. (MMP) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Magellan Midstream Partners, L.P., a leading company in the Oil & Gas Midstream industry within the Energy sector.

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Magellan Midstream Partners, L.P. (MMP)

Industry: Oil & Gas Midstream

Sector: Energy

Website: https://www.magellanlp.com

About Magellan Midstream Partners, L.P.

Magellan Midstream Partners, L.P. engages in the transportation, storage, and distribution of refined petroleum products and crude oil in the United States. It operates through Refined Products and Crude Oil segments. The company operates refined products pipeline that transports gasoline, diesel fuel, aviation fuel, kerosene, and heating oil to wholesalers, retailers, traders, railroads, airlines, and regional farm cooperatives; and to end markets, including retail gasoline stations, truck stops, farm cooperatives, railroad fueling depots, military bases, and commercial airports. Further, it provides pipeline capacity and tank storage services, as well as terminalling, ethanol and biodiesel unloading and loading, additive injection, custom blending, laboratory testing, and data services to shippers. In addition, the company owns and operates crude oil pipelines and storage facilities; and marine terminals located along coastal waterways that provide design, installation, construction, testing, operation, replacement, and management of assets to refiners, marketers, and traders. As of December 31, 2021, it had 9,800-mile refined products pipeline system with 54 terminals; approximately 2,200 miles of crude oil pipelines and storage facilities with an aggregate storage capacity of approximately 39 million barrels; and two marine terminals. The company was incorporated in 2000 and is headquartered in Tulsa, Oklahoma.

Metric	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000
Revenue	3.20B	2.73B	2.43B	2.73B	2.83B	2.51B	2.21B	2.19B	2.30B	1.90B	1.77B	1.75B	1.56B	1.01B	1.21B	1.32B	1.22B	485.16M	695.37M	485.16M	434.48M	86.05M	72.49M
Cost of Revenue	1.41B	1.01B	772.39M	865.41M	969.39M	832.25M	671.48M	614.09M	756.33M	720.26M	785.12M	1.01B	950.80M	537.93M	702.30M	885.51M	849.87M	264.52M	432.67M	264.52M	63.98M	37.31M	0.00
Gross Profit	1.79B	1.73B	1.66B	1.86B	1.86B	1.68B	1.53B	1.57B	1.55B	1.18B	986.95M	735.98M	606.65M	476.25M	510.49M	432.61M	373.69M	220.64M	262.71M	220.64M	370.50M	48.74M	72.49M
Gross Profit Ratio	55.87%	63.12%	68.19%	68.28%	65.70%	66.81%	69.55%	71.94%	67.17%	62.04%	55.69%	42.09%	38.95%	46.96%	42.09%	32.82%	30.54%	45.48%	37.78%	45.48%	85.27%	56.64%	100.00%
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
General & Administrative	240.70M	206.30M	173.48M	196.65M	194.28M	165.72M	147.82M	151.33M	148.29M	132.50M	109.40M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling & Marketing	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SG&A	240.70M	206.30M	173.48M	196.65M	194.28M	165.72M	147.82M	151.33M	148.29M	132.50M	109.40M	98.67M	95.32M	84.05M	70.44M	72.59M	67.11M	59.12M	57.06M	59.12M	198.33M	8.96M	11.96M
Other Expenses	586.80M	566.90M	601.26M	631.11M	-13.87M	-4.14M	36.35M	1.02M	-8.57M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Expenses	827.50M	773.20M	774.74M	827.76M	843.72M	743.70M	677.57M	677.23M	592.56M	478.57M	437.86M	219.85M	203.98M	181.27M	141.59M	136.38M	127.96M	95.20M	98.90M	95.20M	233.42M	20.70M	54.79M
Cost & Expenses	2.24B	1.78B	1.55B	1.69B	1.81B	1.58B	1.35B	1.29B	1.35B	1.20B	1.22B	1.23B	1.15B	719.19M	843.88M	1.02B	977.83M	359.72M	531.57M	359.72M	297.41M	58.02M	54.79M
Interest Income	1.20M	500.00K	1.04M	3.29M	3.01M	1.42M	1.40M	1.28M	1.54M	342.00K	107.00K	61.00K	140.00K	660.00K	1.48M	1.77M	2.10M	2.06M	2.46M	2.06M	0.00	0.00	0.00
Interest Expense	228.00M	226.40M	222.86M	201.84M	203.52M	195.13M	166.81M	144.45M	120.73M	116.12M	111.79M	105.70M	192.76M	70.96M	51.95M	52.81M	55.11M	36.60M	37.89M	36.60M	0.00	0.00	0.00
Depreciation & Amortization	292.80M	227.90M	258.68M	246.13M	265.08M	196.63M	178.14M	166.81M	161.74M	142.23M	128.01M	123.01M	110.07M	97.22M	71.15M	63.79M	60.85M	56.31M	41.85M	36.08M	45.05M	11.75M	9.33M
EBITDA	1.09B	1.09B	1.03B	1.20B	1.18B	1.05B	972.80M	965.91M	964.87M	702.97M	550.08M	645.97M	613.63M	396.29M	445.60M	365.82M	312.00M	183.81M	209.71M	163.59M	180.01M	38.73M	27.07M
EBITDA Ratio	34.03%	39.74%	42.42%	43.81%	41.88%	41.87%	44.11%	44.14%	41.88%	37.05%	31.04%	36.94%	39.40%	39.07%	36.74%	27.75%	25.50%	37.89%	30.16%	33.72%	41.43%	45.00%	37.35%
Operating Income	796.20M	858.10M	771.20M	949.03M	1.19B	1.05B	935.05M	963.62M	974.23M	705.06M	552.06M	522.90M	408.40M	294.98M	399.46M	300.26M	249.05M	125.44M	165.41M	125.44M	137.07M	28.04M	17.71M
Operating Income Ratio	24.88%	31.40%	31.77%	34.79%	42.26%	41.98%	42.40%	44.03%	42.29%	37.16%	31.15%	29.90%	26.22%	29.09%	32.94%	22.78%	20.35%	25.86%	23.79%	25.86%	31.55%	32.58%	24.43%
Total Other Income/Expenses	-246.20M	-171.80M	-214.10M	-181.42M	139.42M	-179.35M	-129.06M	-142.16M	-130.09M	-118.21M	-113.77M	-107.47M	-95.45M	-66.84M	-50.86M	-55.90M	-56.33M	34.04M	-55.21M	-37.27M	-29.60M	-6.10M	-12.86M
Income Before Tax	861.90M	934.60M	819.90M	1.02B	1.33B	873.36M	805.99M	821.46M	844.14M	586.85M	438.29M	415.43M	312.95M	228.14M	348.60M	244.36M	192.73M	88.17M	110.20M	88.17M	107.48M	21.93M	4.85M
Income Before Tax Ratio	26.93%	34.20%	33.77%	37.48%	47.19%	34.83%	36.55%	37.54%	36.64%	30.93%	24.73%	23.76%	20.09%	22.49%	28.74%	18.54%	15.75%	18.17%	15.85%	18.17%	24.74%	25.49%	6.69%
Income Tax Expense	2.70M	2.30M	2.93M	1.44M	71.00K	3.83M	3.22M	2.34M	4.62M	4.61M	2.62M	1.87M	1.37M	1.66M	1.99M	1.57M	58.43M	36.60M	39.50M	36.60M	8.32M	187.00K	1.84M
Net Income	1.04B	982.00M	816.97M	1.02B	1.33B	869.53M	802.77M	819.12M	839.52M	582.24M	435.67M	413.63M	311.98M	126.75M	346.61M	242.79M	192.73M	88.17M	110.20M	88.17M	99.15M	21.75M	3.01M
Net Income Ratio	32.38%	35.93%	33.65%	37.42%	47.19%	34.67%	36.40%	37.43%	36.44%	30.68%	24.59%	23.65%	20.03%	12.50%	28.58%	18.42%	15.75%	18.17%	15.85%	18.17%	22.82%	25.27%	4.15%
EPS	4.95	4.47	3.62	4.46	5.84	3.81	3.52	3.60	3.69	2.57	1.92	1.83	1.42	1.11	0.70	0.49	1.12	1.02	0.86	1.02	0.92	0.47	0.16
EPS Diluted	4.95	4.47	3.62	4.46	5.84	3.81	3.52	3.59	3.69	2.56	1.92	1.83	1.42	1.11	0.70	0.49	1.12	1.01	0.86	1.01	0.92	0.47	0.16
Weighted Avg Shares Out	209.40M	219.60M	225.50M	228.70M	228.38M	228.18M	227.93M	227.55M	227.26M	226.83M	226.37M	225.67M	218.97M	114.23M	125.31M	125.30M	132.72M	132.72M	117.43M	132.72M	87.64M	45.44M	18.39M
Weighted Avg Shares Out (Dil)	209.60M	219.80M	225.50M	228.80M	228.57M	228.34M	228.06M	227.89M	227.63M	227.09M	226.61M	225.97M	219.12M	114.29M	125.31M	125.30M	133.23M	133.25M	117.69M	133.25M	87.87M	45.48M	18.39M

Magellan Midstream Benefiting From Increased Tariffs

May 11, 2023seekingalpha.com

MMP is set to raise its refined product tariffs by a robust 11% in July. This along with strong blending margins set the company up for nice growth in 2023.

3 Oil & Gas Pipeline Stocks to Gain Amid Industry Challenges

May 4, 2023zacks.com

Conservative capital spending by upstream players and possibilities for soft fuel demand could hurt demand for partnerships' midstream assets. EPD, MMP and NS are surviving the industry challenges.

Let's Talk About The Dividend Kings' Midstream Cousins

May 4, 2023seekingalpha.com

Dividend kings and even aristocrats get plenty of love. If readers will allow me to stretch the dividend royalty metaphor a bit further, I would like to propose a third group beyond the kings and aristocrats.

2 Big Yields +7% To Retire On

May 1, 2023seekingalpha.com

“Our favorite holding period is forever” – Warren Buffett. Stock prices move in and out of favor from time to time; our focus is on growing our income.

3 Ultra-High-Yield Dividend Stocks That Gave Their Investors a Raise Last Year

April 16, 2023fool.com

Magellan Midstream's distribution increase in 2022 wasn't huge, but its annual streak is up to 21 years. Energy Transfer gave its investors a massive raise last year -- and there should be more to come.

Magellan Midstream: More Future-Proof Than You Think

April 9, 2023seekingalpha.com

Magellan Midstream is seeing record transportation volumes and plans a tariff increase in July. It's more future-proof than some may believe and is returning capital to unitholders via generous distributions and buybacks.

Better High Yield SWAN Buy: Magellan Midstream Or MPLX?

April 8, 2023seekingalpha.com

Both MMP and MPLX are sleep well at night high yield equities. While MMP has a higher credit rating, MPLX has a cheaper valuation.

12 Dividend Blue-Chip Bargains That Will Leave You Swimming In Cash

March 29, 2023seekingalpha.com

High-yield blue chips are beloved by retirees and for good reason. They can help you pay the bills without ever having to sell a single share. Nothing lets you sleep well at night in a bear market like not having...

Midstream Energy Stocks Ranked By Quality

March 26, 2023seekingalpha.com

Given the current uncertainty, I believe high-quality, favorably valued, and low-risk investments warrant increased attention. Some midstream energy companies boast durable revenue, profitability, and well-supported high dividend yields.

The Near-Perfect Portfolio: Sleep Well During Turbulent Times

March 11, 2023seekingalpha.com

The stock market is inherently volatile. With the economy going through the boom and bust cycles more frequently, the extreme ups and downs of the market are inevitable. For most conservative investors, especially retirees, it's very difficult to tolerate large...

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Magellan Midstream Partners, L.P. (MMP) Income Statement Analysis – Financial Results

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