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Plains All American: 3Q Earnings Snapshot

·1 min read

HOUSTON (AP) _ Plains All American Pipeline L.P. (PAA) on Monday reported third-quarter profit of $143 million.

On a per-share basis, the Houston-based company said it had net income of 13 cents. Earnings, adjusted for non-recurring costs, were 46 cents per share.

The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.

The oil and gas transportation and storage company posted revenue of $5.83 billion in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $5.92 billion.

Plains All American shares have fallen 65% since the beginning of the year. In the final minutes of trading on Monday, shares hit $6.50, a decrease of 64% in the last 12 months.

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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