PAA Natural Gas Storage Earnings: Here’s Why the Stock is Rising Now

PAA Natural Gas Storage, L.P. C (NYSE:PNG) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.91%.

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PAA Natural Gas Storage, L.P. C Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 13.04% to $0.26 in the quarter versus EPS of $0.23 in the year-earlier quarter.

Revenue: Rose 18.56% to $128.9 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: PAA Natural Gas Storage, L.P. C reported adjusted EPS income of $0.26 per share. By that measure, the company beat the mean analyst estimate of $0.23. It beat the average revenue estimate of $67.02 million.

Quoting Management: “PNG reported first-quarter earnings above the midpoint of guidance, marking the 11th consecutive quarter that the Partnership has delivered results in line with or above guidance. First-quarter performance was underpinned by our fee-based firm storage contracts combined with higher than forecast oil revenues associated with our liquids removal activities at our Bluewater facility,” said Dean Liollio, President of PAA Natural Gas Storage.

Key Stats (on next page)…

Revenue increased 14.4% from $112.67 million in the previous quarter. EPS decreased 16.13% from $0.31 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.2 to a profit $0.22. For the current year, the average estimate has moved down from a profit of $0.96 to a profit of $0.92 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)