HOUSTON (AP) — HOUSTON (AP) — Plains All American Pipeline L.P. (PAA) on Friday reported first-quarter earnings of $152 million.
The Houston-based company said it had net income of 14 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were 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 41 cents per share.
The oil and gas transportation and storage company posted revenue of $12.47 billion in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $12.54 billion.
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