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News Breaks
January 2, 2013
18:28 EDTNS, CLMTNuStar Energy closes sale of San Antonio refinery assets to Calumet Specialty
NuStar Energy (NS) announced that it has closed on the sale of its San Antonio refinery and related assets, including a terminal in Elmendorf, TX and a pipeline connecting the terminal and refinery, to Calumet Specialty Products Partners (CLMT) for $100M, plus closing date inventory of approximately $15M. NuStar purchased the refinery and terminal out of bankruptcy in April 2011 for $41M, and the company has invested approximately $54M since then on improvements. To facilitate the transition of the facilities from NuStar to Calumet, the two companies have entered into a transition services agreement in which NuStar will continue providing operational and administrative support for the next few months. NuStar will use proceeds from the transaction to fund the growth of stable, fee-based pipeline and storage operations, especially in the Eagle Ford Shale region and other U.S. shale plays.
News For NS;CLMT From The Last 14 Days
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January 30, 2015
10:16 EDTNSNuStar Energy see Q1 EPS 50c-60c, consensus 54c
Guidance from Q4 earnings conference call.
08:54 EDTNSNuStar sees spending $400M-$420M on growth projects, acquisitions in 2015
First quarter 2015 EBITDA results for our pipeline and storage segments should be higher than last year’s first quarter. Both segments should continue to benefit from increased throughput volumes from Phase 1 of our South Texas Crude Oil Pipeline System, which came online in the second quarter of 2014, while our storage segment will also benefit from incremental EBITDA associated with our recent acquisition of the Linden Terminal. First quarter 2015 EBITDA results for the fuels marketing segment should be comparable to last year’s first quarter,” said Brad Barron, President and CEO. Commenting on full-year 2015 guidance, Barron said, “Our pipeline segment EBITDA should be $25 to $45 million higher than 2014, and storage segment EBITDA should be $10 to $30 million higher than 2014, while EBITDA in our fuels marketing segment is expected to be in the range of $20 to $30 million. Based on these projections, we expect to once again cover our distribution for the full-year 2015.” With regard to capital spending projections for 2015, Barron went on to say, “We plan to spend $400 to $420 million on internal growth projects and acquisitions during 2015, while reliability capital spending is expected to be in the range of $40 to $50 million.”
08:52 EDTNSNuStar Energy reports Q4 EPS 54c, consensus 53c
Reports Q4 revenue $681.74M, consensus $777.03M.
08:29 EDTCLMTCalumet Specialty Products management to meet with JPMorgan
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January 16, 2015
10:01 EDTNSOn The Fly: Analyst Downgrade Summary
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09:30 EDTNSNuStar Energy downgraded to Underweight from Equal Weight at Morgan Stanley
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