UPDATE 1-Sunoco Logistics Q4 profit lags Street

* Q4 earnings $1.30/LP unit vs est. $1.41

* Revenue up 6 percent

* Says weak oil prices hurt earnings

* Says IDRs buyback to boost LP units

Jan 26 (BestGrowthStock) – Sunoco Logistics Partners LP (SXL.N: )
posted a lower-than-expected fourth-quarter profit (Read more your timing to make a profit.) as weaker
crude oil prices weighed on its key crude oil pipeline
division.

The Philadelphia-based oil and gas pipeline operator said
net income for the quarter was $54.4 million, or $1.30 per
limited partner unit, compared with $75.3 million, or $2.23 per
LP unit, a year ago.

Sunoco said the net income was in line with its estimates.

Total revenue for the quarter rose 6 percent to $1.67
billion.

For the fourth quarter, operating income for its crude oil
pipeline division fell 48 percent to $35.6 million, the company
said in a statement.

Analysts on average had expected earnings of $1.41 per
unit, on revenue of $1.42 billion, according to Thomson Reuters
I/B/E/S.

Separately, Sunoco Logistics and Sunoco Inc (SUN.N: ) said
they repurchased the incentive distribution rights (IDRs) held
by Sunoco Logistics’ general partner Sunoco Partners LLC in
exchange for a new class of IDRs and $201.2 million.

Sunoco Logistics expects the transaction to immediately
accretive to its limited partnership unitholders.

Units of Sunoco, which have risen about 18 percent since
the company reported a 50 percent drop in third-quarter total
revenue, closed at $70.30 Tuesday on the New York Stock
Exchange.

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(Reporting by Krishna N. Das in Bangalore; Editing by
Gopakumar Warrier)

UPDATE 1-Sunoco Logistics Q4 profit lags Street