TEPPCO Feels Effects of Hurricanes in Reduced Third-Quarter Income, an Industrial Info News Alert

Researched by Industrial Info Resources (Sugar Land, Texas) — Petroleum pipeline and storage operator TEPPCO Partners LP (NYSE:TPP) (Houston, Texas) provided its third quarter 2008 earnings report on October 28. TEPPCO reported net income of $47 million, compared with $47.6 million in 3Q07. Hurricanes Gustav and Ike were primarily blamed for the reduction in profits this quarter. TEPPCO estimates that the hurricanes caused the company an estimated $3.7 million of lost revenue.

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SOURCE: Industrial Info Resources