Published on 9 Feb 2024 on Zacks via Yahoo Finance
Plains All American (PAA) Q4 Earnings Top Estimates, Sales Lag
Plains All American Pipeline, L.P. PAA reported fourth-quarter 2023 adjusted earnings of 42 cents per unit, which surpassed the Zacks Consensus Estimate of 37 cents by 13.5%. The bottom line improved 27.3% from the year-ago quarter’s level of 33 cents.The company reported GAAP earnings of 35 cents per unit compared with 30 cents in the year-ago period.Full-year 2023 adjusted earnings were $1.42 per share, up 13% from the previous year’s reported figure of $1.26.
Total Revenues
Net sales of $12.7 billion missed the Zacks Consensus Estimate of $18.4 billion by 31%. The top line also declined 2% from the year-ago quarter’s figure of $13 billion.Full-year 2023 revenues totaled $48.7 billion, down 15% from the previous year’s level of $57.3 billion.