Tulsa-Magellan Midstream Partners LP reports that the results for its anhydrous ammonia pipeline were off in the second quarter ending June 30, 2009, due to additional maintenance work performed on the line during the quarter. Operating margins were $2 million on sales of $5.2 million, down from the year-ago $3.2 million and $6 million, respectively. Some 171,000 st were shipped during the second quarter, down from the year-ago 227,000 st. Six-month margins were $2.1 million on sales of $8.5 million, down from $6.3 million and $11.4 million, respectively. Some 295,000 st were shipped during the first half, down from the year-ago 447,000 st. Company-wide net income was $53.1 million ($.45 per diluted share) on sales of $208.1 million, down from the year-ago $94.4 million ($.92 per share) and $272.9 million. Six-month net income was $98.4 million ($.79 per share) on sales of $420.9 million, versus the year-ago $187.7 million ($2.02 per share) and $619.4 million.
Transparency Across the Fertilizer Value-Chain