Plains All American: Q1 Earnings Snapshot

HOUSTON (AP) _ Plains All American Pipeline L.P. (PAA) on Tuesday reported first-quarter net income of $422 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Houston-based company said it had profit of 51 cents. Earnings, adjusted for non-recurring gains, were 25 cents per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.

The oil and gas transportation and storage company posted revenue of $8.38 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $7.3 billion.

Plains All American shares have risen 11% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $9.11, a rise of nearly 9% in the last 12 months.


This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on PAA at