Plains All American Pipeline Beats on Both Top and Bottom Lines
Plains All American Pipeline (NYS: PAA) reported earnings on May 7. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Plains All American Pipeline beat slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased significantly and GAAP earnings per share increased.
Gross margins contracted, operating margins contracted, net margins improved.
Plains All American Pipeline booked revenue of $9.22 billion. The six analysts polled by S&P Capital IQ expected a top line of $9.09 billion on the same basis. GAAP reported sales were 20% higher than the prior-year quarter's $7.69 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 $1.58. The 15 earnings estimates compiled by S&P Capital IQ predicted $1.51 per share. GAAP EPS of $1.02 for Q1 were 13% higher than the prior-year quarter's $0.90 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 5.1%, 30 basis points worse than the prior-year quarter. Operating margin was 3.4%, 40 basis points worse than the prior-year quarter. Net margin was 2.5%, 10 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $7.71 billion. On the bottom line, the average EPS estimate is $1.11.
Next year's average estimate for revenue is $33.60 billion. The average EPS estimate is $4.99.
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 $83.21.
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.
At the time this article was published 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 ofMotley 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.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.