A Delaware federal judge partially cleared Magellan Midstream, and a joint venture it runs, of infringing some claims of gasoline blending patents, but backed a jury's finding the duo infringed other claims and also tacked on additional payments to damages the jury awarded.
/PRNewswire/ Magellan Midstream Partners, L.P. (NYSE: MMP) today reported net income of $237 million for third quarter 2021 compared to $212 million for.
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TULSA, Okla., April 29, 2021 /PRNewswire/ Magellan Midstream Partners, L.P. (NYSE: MMP) today reported net income of $221.3 million for first quarter 2021 compared to $287.6 million for first quarter 2020. Diluted net income per common unit was 99 cents in first quarter 2021 and $1.26 in first quarter 2020.
Diluted net income per unit excluding mark-to-market (MTM) commodity-related pricing adjustments, a non-generally accepted accounting principles (non-GAAP) financial measure, was $1.09 for first quarter 2021. These results were higher than the 75-cent guidance provided by management in early February primarily due to higher-than-expected commodity margins from an improved pricing environment, an overall favorable impact from the recent winter storms and other one-time positive items.