HOUSTON (AP) — HOUSTON (AP) — Plains All American Pipeline L.P. (PAA) on Wednesday reported fourth-quarter profit of $263 million.
The Houston-based company said it had profit of 30 cents per share. Earnings, adjusted for non-recurring costs, came to 33 cents per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The oil and gas transportation and storage company posted revenue of $12.95 billion in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $14.38 billion.
For the year, the company reported profit of $1.04 billion, or $1.19 per share. Revenue was reported as $57.34 billion.
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