HOUSTON (AP) — HOUSTON (AP) — Plains All American Pipeline L.P. (PAA) on Friday reported first-quarter net income of $443 million.
On a per-share basis, the Houston-based company said it had profit of 49 cents. Earnings, adjusted for non-recurring gains, came to 39 cents per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.
The oil and gas transportation and storage company posted revenue of $12.01 billion in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $13.12 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PAA at https://www.zacks.com/ap/PAA
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