Plains All American Pipeline (PAA) Tops Q1 EPS by 11c, Revenues Miss

Plains All American Pipeline (NYSE: PAA) reported Q1 EPS of $0.69, $0.11 better than the analyst estimate of $0.58. Revenue for the quarter came in at $8.38 billion versus the consensus estimate of $9.4 billion.

First-Quarter Highlights

• Delivered 1Q19 financial and operating results ahead of expectations
• Completed August 2017 deleveraging plan; updated financial policy and targeted metrics; increased annual distribution
• Increased 2019 Adjusted EBITDA guidance
• Executing Permian-focused capital program, sanctioning new growth projects, and advancing new commercial opportunities

“Our first-quarter results and increased 2019 guidance reflect continued solid execution of our business plan,” stated Willie Chiang, Chief Executive Officer of Plains All American Pipeline. “We have meaningfully improved our financial positioning, and we remain focused on executing 2019 goals and advancing a number of initiatives that position us for continued fee-based growth with attractive returns in 2020 and beyond.”

For earnings history and earnings-related data on Plains All American Pipeline (PAA) click here.

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