Plains All American Pipeline LP Earnings: Everything You Must Know Now

Plains All American Pipeline LP (NYSE:PAA) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.

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Plains All American Pipeline LP Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 59.49% to $1.26 in the quarter versus EPS of $0.79 in the year-earlier quarter.

Revenue: Rose 15.21% to $10.62 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Plains All American Pipeline LP reported adjusted EPS income of $1.26 per share. By that measure, the company beat the mean analyst estimate of $0.98. It missed the average revenue estimate of $11.27 billion.

Quoting Management: “PAA reported very strong first-quarter results, which meaningfully exceeded 2012’s comparable results as well as our guidance,” said Greg L. Armstrong, Chairman and CEO of Plains All American. “This performance was underpinned by solid fee-based results in our Transportation and Facilities segments and outstanding execution in our margin-based Supply and Logistics segment. We have increased our 2013 adjusted EBITDA guidance by $135 million, representing an approximate 7% increase over our guidance issued at the beginning of the year. This updated guidance incorporates the benefit of our strong first-quarter performance as well as a slightly improved outlook for the second quarter of 2013.”

Key Stats (on next page)…

Revenue increased 12.51% from $9.44 billion in the previous quarter. EPS increased 24.75% from $1.01 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.65 to a profit $0.60. For the current year, the average estimate has moved up from a profit of $2.71 to a profit of $2.85 over the last ninety days.

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