HOUSTON (AP) 鈥� HOUSTON (AP) 鈥� Plains All American Pipeline L.P. (PAA) on Friday reported second-quarter profit of $1.83 billion.
The Houston-based company said it had profit of $2.51 per share. Earnings, adjusted to account for discontinued operations, 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 40 cents per share.
The oil and gas transportation and storage company posted revenue of $17.69 billion in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $14.68 billion.
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