Boardwalk Pipeline Partners Q2 Profit Down

(RTTNews) - Boardwalk Pipeline Partners LP (BWP) reported that its second-quarter net income was $23.7 million, a 64% decrease from $65.7 million last year. Net income per common unit dropped to $0.09 from $0.26 in the previous year.

Operating revenues were $317.6 million for the quarter , a 4% increase from $306.3 million last year.

Operating revenues, less fuel and transportation expense, were $303.1 million for the quarter , a 3% increase from last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.29 per share and revenues of $316.6 million. Analysts' estimates typically exclude special items.

Boardwalk Pipeline Partners announced that it has declared a quarterly cash distribution per common unit of $0.10 ($0.40 annualized) payable on August 17, 2017, to unitholders of record as of August 10, 2017.