Plains All American Pipeline (NYSE: PAA) is expected to report Q2 earnings on Aug. 5. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Plains All American Pipeline's revenues will wither -0.2% and EPS will decrease -25.6%.

The average estimate for revenue is $9.77 billion. On the bottom line, the average EPS estimate is $0.61.

Revenue details
Last quarter, Plains All American Pipeline logged revenue of $10.62 billion. GAAP reported sales were 15% higher than the prior-year quarter's $9.22 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.

EPS details
Last quarter, non-GAAP EPS came in at $1.26. GAAP EPS of $1.27 for Q1 were 149% higher than the prior-year quarter's $0.51 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.

Recent performance
For the preceding quarter, gross margin was 7.9%, 280 basis points better than the prior-year quarter. Operating margin was 6.2%, 280 basis points better than the prior-year quarter. Net margin was 5.0%, 250 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $39.98 billion. The average EPS estimate is $3.09.

Investor sentiment

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 $55.66.

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