Susser Petroleum Partners Q2 Earnings Nearly Flat - Quick Facts

(RTTNews) - Motor fuel retailer Susser Petroleum Partners LP (SUSP) Friday reported second-quarter profit which was almost flat with last year, as higher costs, including a $1 million rise in interest expense, eclipsed revenue growth.

For the three months to June, net earnings stood at $9.59 million or $0.43 per limited partner unit, compared with $9.68 million or $0.44 per limited partner unit a year earlier.

On average, eight analysts polled by Thomson-Reuters estimated the company's earnings to be $0.54 for the quarter. Analysts' estimates typically exclude one-time items.

Adjusted EBITDA totaled $15.56 million, compared with $12.84 million in the same period last year.

Quarterly revenues rose to $1.38 billion from $1.12 billion last year, above the $1.33 billion Wall Street expected, helped by higher volumes and rental income.

The board recommended a quarterly distribution of $0.5197 per unit, up 3.5 percent from the preceding quarter, payable on August 29 to unitholders of record on August 19.