Phillips 66 Partners Q1 Profit Rises - Quick Facts

(RTTNews) - Phillips 66 Partners LP (PSXP) said that its first-quarter 2014 net income was $28.0 million, compared to $22.9 million in the prior year. Net income attributable to the partnership per limited partner unit for the latest-quarter was $0.25.

Adjusted earnings for the latest-quarter were $18.3 million, which included one month's financial results of the Gold Line products system and Medford Spheres.

Excluding predecessor results, total adjusted revenues for the first quarter were $36.0 million. Including predecessor results, total reported revenues were $51.9 million, compared to $42.3 million last year.