Plains All American Pipeline LP (PAA) revealed a profit for first quarter that decreased from the same period last year but beat the Street estimates.
The company's earnings came in at $266 million, or $0.29 per share. This compares with $422 million, or $0.52 per share, in last year's first quarter.
Excluding items, Plains All American Pipeline LP reported adjusted earnings of $290 million or $0.41 per share for the period.
Analysts on average had expected the company to earn $0.39 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 2.8% to $11.995 billion from $12.341 billion last year.
Plains All American Pipeline LP earnings at a glance (GAAP) :
-Earnings (Q1): $266 Mln. vs. $422 Mln. last year.-EPS (Q1): $0.29 vs. $0.52 last year.-Revenue (Q1): $11.995 Bln vs. $12.341 Bln last year.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.