Plains All American Pipeline
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Plains All American Pipeline whiffed on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased significantly and GAAP earnings per share expanded significantly.
Margins grew across the board.
Plains All American Pipeline reported revenue of $8.88 billion. The five analysts polled by S&P Capital IQ anticipated revenue of $10.27 billion on the same basis. GAAP reported sales were 23% higher than the prior-year quarter's $7.23 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $1.65. The 14 earnings estimates compiled by S&P Capital IQ averaged $1.61 per share on the same basis. GAAP EPS of $1.37 for Q4 were 99% higher than the prior-year quarter's $0.69 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 5.8%, 80 basis points better than the prior-year quarter. Operating margin was 4.0%, 90 basis points better than the prior-year quarter. Net margin was 3.1%, 110 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $8.03 billion. On the bottom line, the average EPS estimate is $1.27.
Next year's average estimate for revenue is $32.31 billion. The average EPS estimate is $4.66.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Plains All American Pipeline is outperform, with an average price target of $72.20.
Are you missing a major story in the energy space? Read about "One Stock to Own Before Nat Gas Act 2011 Becomes Law." Click here for instant access to this free report.
- Add Plains All American Pipeline to My Watchlist.
Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.