Q2 (Jun) earnings of $0.85 per share, excluding non-recurring items, $0.14 better than the Thomson Reuters consensus of $0.71; revenues rose 34.5% year/year to $1.75 billion vs the $1.61 billion consensus. The company said, The Partnership's record earnings for the second quarter were primarily driven by strong performance in our Liquids segment and the continued benefits of its cost containment measures implemented in 2009. As a result of strong year-to-date results and its confidence in the continued strength of both its Liquids and Natural Gas segments the co is increasing its full year earnings guidance to a range between $410-430 million vs. Thomson Reuters consensus of $336.2 million.Note that last line: Analyst estimates full year earnings to be $336 million. EEP has raised its full year earnings guidance to $425 million.
I continue to opine that 2010 will be a watershed year for the Bakken.
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