Tallgrass Energy Partners Q1 Profit Surges - Quick Facts

(RTTNews) - Tallgrass Energy Partners, LP (TEP) reported first-quarter net income of $12.90 million, up from $5.07 million in the year-ago period. Earnings for the latest quarter were $0.30 per unit.

Revenue for the quarter grew to $84.96 million from $60.26 million in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to earn $0.24 per share for the quarter on revenues of $74.28 million.

David Dehaemers, Jr , Tallgrass President and CEO, said, "Although we expect some variability in our quarterly coverage, particularly for our second quarter when we anticipate increased spending on planned expenses and maintenance capital projects, we continue to be confident in our 2014 guidance given earlier this year."