Recap: Magellan Midstream Q3 Earnings

Magellan Midstream MMP reported its Q3 earnings results on Thursday, October 27, 2022 at 08:00 AM.

Here's what investors need to know about the announcement.

Magellan Midstream beat estimated earnings by 14.16%, reporting an EPS of $1.29 versus an estimate of $1.13.

Revenue was up $237.05 million from the same period last year.

Last quarter the company beat on EPS by $0.12 which was followed by a 0.57% increase in the share price the next day.

Here's a look at Magellan Midstream's past performance:

Quarter	Q2 2022	Q1 2022	Q4 2021	Q3 2021
EPS Estimate	1.05	1.04	1.10	0.97
EPS Actual	1.17	1.10	1.24	1.09
Revenue Estimate	697.05M	716.21M	663.37M	639.83M
Revenue Actual	788.60M	674.70M	809.30M	639.05M

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Magellan Midstream management provided guidance for FY 2022, expecting earnings between $5.25 and $5.25 per share.

To track all earnings releases for Magellan Midstream visit their earnings calendar here.

This article was generated by Benzinga's automated content engine and reviewed by an editor.