July 21, 2009 / 10:01 PM / 8 years ago

UPDATE 1-Sunoco Logistics Q2 profit beats Wall Street view

2 Min Read

* Q2 income/lpu $1.74 vs estimate $1.49

* Q2 revenue falls 61 pct to $1.29 bln

* Sees FY maintenance capex of $30 mln

* Shares up 3 pct

July 21 (Reuters) - Oil and gas pipeline operator and distributor Sunoco Logistics Partners LP SXL.N reported a second-quarter profit that beat market estimates, helped by higher lease acquisition results and increased crude oil pipeline and storage revenue.

For the quarter, the company posted net income of $66.6 million, or $1.74 per limited partner unit (lpu), compared with $51.3 million, or $1.47 per lpu.

Revenue fell 61 percent to $1.29 billion. Analysts on average were expecting the company to earn $1.49 per lpu, on revenue of $1.17 billion.

Shares of the company were up 3 percent at $56.50 in trading after the bell. They closed at $54.90 Tuesday on the New York Stock Exchange.

For the alerts, please double click [ID:nWNAB9687] (Reporting by Arup Roychoudhury in Bangalore; Editing by Vinu Pilakkott) (arup.roychoudhury@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: arup.roychoudhury.reuters.com@reuters.net))

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