HOUSTON (AP) — HOUSTON (AP) — Plains All American Pipeline L.P. (PAA) on Friday reported first-quarter profit of $266 million.
On a per-share basis, the Houston-based company said it had profit of 29 cents. Earnings, adjusted for non-recurring costs, were 41 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The oil and gas transportation and storage company posted revenue of $12 billion in the period.
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