HOUSTON (AP) — HOUSTON (AP) — Plains All American Pipeline L.P. (PAA) on Friday reported fourth-quarter net income of $312 million.
On a per-share basis, the Houston-based company said it had profit of 35 cents. Earnings, adjusted for non-recurring costs, were 42 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share.
The oil and gas transportation and storage company posted revenue of $12.7 billion in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $17.48 billion.
For the year, the company reported profit of $1.23 billion, or $1.40 per share. Revenue was reported as $48.71 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PAA at https://www.zacks.com/ap/PAA