Plains All American Pipeline (PAA) Tops Q2 EPS by 15c, Revenues Beat

Plains All American Pipeline (NYSE: PAA) reported Q2 EPS of $0.38, $0.15 better than the analyst estimate of $0.23. Revenue for the quarter came in at $8.08 billion versus the consensus estimate of $7.98 billion.

“We are pleased to report solid second-quarter results and increased guidance for the full year,” stated Willie Chiang, Executive Vice President and Chief Operating Officer of Plains All American Pipeline. “We remain on track to achieve our deleveraging objectives and targeted credit metrics within the first half of 2019, while maintaining substantial distribution coverage underpinned by fee-based cash flow. Additionally, strong Permian Basin fundamentals, combined with the growth and execution of our capital program, provide visibility for continued momentum for fee-based cash flow growth.”

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

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