NuStar GP Holdings, LLC (NSH) has reported an 1.89 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $16.99 million, or $0.39 a share in the quarter, compared with $16.68 million, or $0.39 a share for the same period last year.
The company has not recorded any revenues for the current as well as previous quarter.
"NuStar GP Holdings, LLC's first quarter 2017 results were positively impacted by NuStar Energy L.P.'s recent upsized equity offering of 14,375,000 common units," said Brad Barron, President and Chief Executive Officer of NuStar Energy L.P. and NuStar GP Holdings, LLC.
Operating cash flow improves NuStar GP Holdings, LLC has generated cash of $16.88 million from operating activities during the quarter, up 17.33 percent or $2.49 million, when compared with the last year period. Cash flow from investing activities was $5.96 million for the quarter, down 26.32 percent or $2.13 million, when compared with the last year period.
The company has spent $22.46 million cash to carry out financing activities during the quarter as against cash outgo of $19.40 million in the last year period.
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