HOUSTON (AP) — HOUSTON (AP) — Plains All American Pipeline L.P. (PAA) on Friday reported fourth-quarter earnings of $342 million.
The Houston-based company said it had net income of 41 cents per share. Earnings, adjusted to account for discontinued operations, came to 40 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The oil and gas transportation and storage company posted revenue of $10.57 billion in the period.
For the year, the company reported profit of $1.44 billion, or $1.66 per share. Revenue was reported as $44.26 billion.
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