Plains All American Pipeline
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Plains All American Pipeline whiffed on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue increased and GAAP earnings per share didn't move.
Margins expanded across the board.
Plains All American Pipeline logged revenue of $9.44 billion. The 10 analysts polled by S&P Capital IQ looked for revenue of $10.79 billion on the same basis. GAAP reported sales were 6.2% higher than the prior-year quarter's $8.89 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.01. The 18 earnings estimates compiled by S&P Capital IQ predicted $0.76 per share. GAAP EPS of $0.69 were the same as the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 6.4%, 60 basis points better than the prior-year quarter. Operating margin was 4.3%, 30 basis points better than the prior-year quarter. Net margin was 3.4%, 30 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $10.45 billion. On the bottom line, the average EPS estimate is $0.69.
Next year's average estimate for revenue is $41.94 billion. The average EPS estimate is $2.68.
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 $50.64.
Is Plains All American Pipeline the right energy stock for you? Read about a handful of timely, profit-producing plays on expensive crude in "3 Stocks for $100 Oil." Click here for instant access to this free report.
- Add Plains All American Pipeline to My Watchlist.