Shell Midstream Partners, L.P (SHLX) has reported a 28.03 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $70.80 million in the quarter, compared with $55.30 million for the same period last year. Revenue during the quarter dropped 8.47 percent to $70.20 million from $76.70 million in the previous year period. Gross margin for the quarter contracted 1119 basis points over the previous year period to 69.52 percent. Total expenses were 54.70 percent of quarterly revenues, up from 41.33 percent for the same period last year. That has resulted in a contraction of 1337 basis points in operating margin to 45.30 percent.
Operating income for the quarter was $31.80 million, compared with $45 million in the previous year period.
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