Buckeye Partners LP on Aug. 1 reported second-quarter adjusted EBITDA of $214.3 million, a decrease from $254.9 million in the prior-year quarter.
The S&P Global Market Intelligence consensus estimate of adjusted EBITDA was $211.2 million.
Buckeye's distributable cash flow for the quarter was $140.0 million, down from $162.0 million a year earlier. Net income attributable to the partnership came in at $90.0 million, a drop from $91.9 million in the year-ago period.
Australian investment manager IFM Investors Pty. Ltd. is acquiring Buckeye in an all-cash deal worth $10.3 billion in enterprise value and $6.5 billion in equity value.