NuStar Energy L.P. (NYSE:NS) 3Q18 Profit Beats Street View

NuStar Energy L.P. (NYSE:NS) headquartered in San Antonio, announced net loss for the third quarter of $ 363.33 million or $ 3.49 per share, compared to income $ 38.59 million or $ 0.15 per share for the year-ago quarter.

The company recorded third quarter adjusted net income of $ 0.13 per share, while analysts from Thomson Reuters expected loss of $ 1.27 per share.

Top line figures for the third quarter rose 11% to $ 490.36 million from $ 440.57 million in the same quarter last year, where as analysts anticipated $ 472.87 million.

The press release noted that the earnings per unit for the third quarter were a net loss of $3.49 per unit, due to a one-time, non-cash charge of $377.1 million related to the recent completion of the simplification transaction, which merged NuStar GP Holdings, LLC and NuStar Energy.

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