Magellan Midstream Reports Second-Quarter 2023 Earnings

TULSA, Okla., Aug. 3, 2023 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) ("Magellan") today reported net income of $239 million for second quarter 2023, compared to $354 million for second quarter 2022. The prior period included a $162 million gain on the sale of discontinued operations related to the June 2022 divestiture of our independent terminals network. Excluding the prior period gain, the increase in second quarter 2023 net income was driven by higher profits from our commodity-related activities and overall improved financial results from our core fee-based transportation and terminals activities. 

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