TULSA, Okla. (AP) _ Magellan Midstream Partners L.P. (MMP) on Thursday reported first-quarter profit of $165.5 million.

On a per-share basis, the Tulsa, Oklahoma-based company said it had net income of 78 cents. Earnings, adjusted for one-time gains and costs, came to $1.08 per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.05 per share.

The petroleum and oil storage and transportation company posted revenue of $674.7 million in the period.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MMP at https://www.zacks.com/ap/MMP

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