PAA Natural Gas Storage, L.P. (PNG) reported net income for the first quarter of $18.0 million or $0.24 per unit, compared to $16.0 million or $0.22 per unit for the year-ago quarter.
Excluding items, adjusted net income for the first quarter was $19.5 million or $0.26 per unit, compared to $17.1 million or $0.23 per unit in the prior year quarter.
Total revenue for the first quarter rose to $128.93 million from $108.72 million a year ago.
Analysts polled by Thomson Reuters expected the company to earn $0.23 per unit on revenue of $67.02 million for the first quarter. Analysts' estimates typically exclude special items.
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