Companies Post Financial Results, Declare Dividends - Research Report on Phillips 66, Marathon Petroleum, World Fuel, Access Midstream, and Calumet
NEW YORK, November 4, 2013 /PRNewswire/ --
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Today, Analysts' Corner announced new research reports highlighting Phillips 66 (NYSE: PSX), Marathon Petroleum Corporation (NYSE: MPC), World Fuel Services Corp. (NYSE: INT), Access Midstream Partners, L.P. (NYSE: ACMP), and Calumet Specialty Products Partners LP (NASDAQ: CLMT). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.
Phillips 66 Research Report
On October 30, 2013, Phillips 66 reported its financial results for Q3 2013. The Company posted adjusted earnings of $535 million, down by 71.8% YoY during the quarter. According to the Company, Phillips 66 generated $1.9 billion of cash from operations, $1.1 billion in proceeds from asset dispositions and $404 million in net proceeds from Phillips 66 Partners' initial public offering, during the quarter. Greg Garland, Chairman and CEO of Phillips 66, commented, "We ran well during the quarter. Weaker refining margins had a significant impact on our earnings. Chemicals posted strong earnings as a result of solid utilization rates and good margins. This quarter, we returned more than $800 million of capital to our shareholders through dividends and share repurchases. Earlier this month, we completed our initial $2 billion share repurchase program, began share repurchases under our additional $1 billion program and announced a 25 percent increase in our dividend." The Full Research Report on Phillips 66 - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.AnalystsCorner.com/r/full_research_report/e6e5_PSX]
Marathon Petroleum Corporation Research Report
On October 30, 2013, Marathon Petroleum Corporation (Marathon Petroleum) announced that its Board of Directors has declared a dividend of $0.42 per share on common stock. According to the Company, shareholders of record as of the close of business on November 20, 2013 will be paid dividends on December 10, 2013. The Full Research Report on Marathon Petroleum Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.AnalystsCorner.com/r/full_research_report/cd30_MPC]
World Fuel Services Corp. Research Report
On October 30, 2013, World Fuel Services Corp. (World Fuel) reported its financial results for Q3 2013. The Company posted revenue of 10.5 billion, up 5.9% YoY during the quarter. World Fuel's Q3 2013 GAAP net income remained unchanged at $51.5 million or $0.72 per diluted share on YoY basis. Meanwhile, non-GAAP net income and diluted earnings per share for Q3 2013 (excluding share-based compensation and amortization of acquired intangible assets) also remained unchanged at $57.9 million and $0.81, respectively, on YoY basis. Michael J. Kasbar, President and CEO of World Fuel, commented, "Considering current market conditions, our overall performance in the third quarter was strong. Our global team remains focused on growing our value proposition in the fuel, services and billing and payment sectors, across all three of our business segments, driving greater value for our customers and suppliers." The Full Research Report on World Fuel Services Corp. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.AnalystsCorner.com/r/full_research_report/a593_INT]
Access Midstream Partners, L.P. Research Report
On October 29, 2013, Access Midstream Partners, L.P. (Access Midstream) reported its Q3 2013 financial results. During Q3 2013, Access Midstream's revenue (excluding revenue from equity investment of $66.5 million in Q3 2013) increased 67.2% YoY to $260.9 million. Net income attributable to Access Midstream totaled at $78.2 million in Q3 2013, which went up 55.7% YoY. J. Mike Stice, Access Midstream's CEO, said, "I could not be more pleased with our execution this quarter. As a result of continued outstanding operational and financial performance, the Board has elected to step-up the distribution this quarter by five cents per unit, returning strong, predictable cash flow back to our investors. From this new baseline, the Partnership expects to grow limited partner distributions at a sustained 15% rate consistent with previous guidance." The Full Research Report on Access Midstream Partners, L.P. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.AnalystsCorner.com/r/full_research_report/86e2_ACMP]
Calumet Specialty Products Partners LP Research Report
On October 22, 2013, Calumet Specialty Products Partners LP (Calumet) declared Q3 2013 cash distribution of c.$0.68 per unit, or $2.74 per unit on an annualized basis, on all of its outstanding limited partner units. According to the Company, unit holders of record as of the close of business on November 4, 2013 can collect the dividend on November 14, 2013. Calumet informed that it will declare its earnings for the Q3 2013 on Wednesday, November 6, 2013 before the market opening, which will be followed by a conference call on the same day at 1:00 p.m. ET (12:00 p.m. CT) to review the financial and operational results for Q3 2013. According to the Company, interested parties can access a webcast of the earnings call and accompanying presentation slides via Calumet's website. The Full Research Report on Calumet Specialty Products Partners LP - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.AnalystsCorner.com/r/full_research_report/f900_CLMT]
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