Buckeye Partners, L.P. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported total revenue of $777,122,000 against $796,783,000 a year ago. Operating income was $189,944,000 against $131,019,000 a year ago. Income from continuing operations before taxes was $144,472,000 against $91,567,000 a year ago. Income from continuing operations was $144,499,000 or $1.07 per diluted share against $91,326,000 or $0.71 per diluted share a year ago. Net income attributable to the company was $140,456,000 against $91,580,000 a year ago. Diluted earnings per share were $1.07 against $0.71 a year ago. Adjusted EBITDA from continuing operations was $256,589,000 against $206,481,000 a year ago. Total operating income was $189,944,000 against $131,019,000 a year ago. Total capital expenditures were $111,772,000 against $164,390,000 a year ago. Distributable cash flow for the quarter was $183 million compared to $144.9 million last year. Maintenance capital for the second quarter of 2016 was $29.9 million compared to $23.6 million for the second quarter of 2015, and return capital spend was $81.9 million for the second quarter.

For the six months, the company reported total revenue of $1,557,716,000 against $1,884,883,000 a year ago. Operating income was $370,151,000 against $282,821,000 a year ago. Income from continuing operations before taxes was $280,064,000 against $203,827,000 a year ago. Income from continuing operations was $279,476,000 or $2.08 per diluted share against $203,347,000 or $1.60 per diluted share a year ago. Net income attributable to the company was $271,569,000 against $203,191,000 a year ago. Diluted earnings per share were $2.08 against $1.59 a year ago. Adjusted EBITDA from continuing operations was $501,215,000 against $419,391,000 a year ago. Total operating income was $370,151,000 against $282,821,000 a year ago. Total capital expenditures were $224,117,000 against $298,414,000 a year ago.

The company expects to maintain quarterly distribution growth at a rate of $0.0125 per LP unit through the remainder of 2016.

For 2016, the company expects maintenance capital spend in the range of $105 million to $125 million, while return capital spend is expected to be between $300 million and $340 million.