NewzHOUSTON (AP) — HOUSTON (AP) — Plains All American Pipeline L.P. (PAA) on Friday reported second-quarter profit of $1.83 billion. The Houston-based company said it had profit of $2.51 per share.
Earnings, adjusted to account for discontinued operations, were 41 cents per share. The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The oil and gas transportation and storage company posted revenue of $17.69 billion in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $14.68 billion. _____ 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 Source (PPL) on Friday reported second-quarter earnings of $230 million. The Allentown, Pennsylvania-based company said it had profit of 30 cents per share.
Earnings, adjusted for non-recurring costs, came to 33 cents per share. The results did not meet Wall Street expectations. The energy and utility holding company posted revenue of $2.11 billion in the period, which also did not meet Street forecasts.
Three analysts surveyed by Zacks expected $2.18 billion. PPL expects full-year earnings in the range of $1.90 to $1.98 per share. Access a Zacks stock report on PPL at https://www.zacks.com/ap/PPL Source
Summary from source