Brief: Nustar Energy Posts Q4 Net Income Of $92 Mln

NuStar Energy LP

01/02/2023 11:56

Feb 1 (Reuters) - Nustar Energy Lp  NS.N :
    * NUSTAR ENERGY L.P. REPORTS STRONG FOURTH QUARTER AND
FULL-YEAR
2022 EARNINGS RESULTS
    * PERMIAN CRUDE SYSTEM VOLUMES HIT RECORD-BREAKING AVERAGE
OF
584,000 BARRELS PER DAY/13 PERCENT ABOVE 4Q 2021
    * QTRLY NET INCOME OF $92 MILLION, OR $0.18 PER UNIT
    * RESULTS FOR Q4 OF 2022 INCLUDE A $16 MILLION GAIN FROM
INSURANCE
PROCEEDS TO REBUILD TANKS AT ITS SELBY TERMINAL
    * ADJUSTED NET INCOME WAS $75 MILLION FOR Q4 OF 2022, OR
$0.34 PER
UNIT
    * EXPECT TO GENERATE FULL-YEAR 2023 NET INCOME IN RANGE OF
$202
MILLION TO $240 MILLION
    * NOW PLANS TO SPEND $130 TO $150 MILLION IN STRATEGIC
CAPITAL IN
2023
    * EXPECT TO GENERATE FULL-YEAR 2023 EBITDA IN RANGE OF $700
MILLION TO $760 MILLION
    * EXPECT TO SPEND BETWEEN $25 MILLION AND $35 MILLION ON
RELIABILITY THIS YEAR
    * Q4 EARNINGS PER SHARE VIEW $0.38 -- REFINITIV IBES DATA

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