AP NEWS
Click to copy
Click to copy

Plains GP: 2Q Earnings Snapshot

August 6, 2019

HOUSTON (AP) _ Plains GP Holdings LP (PAGP) on Tuesday reported second-quarter earnings of $66 million.

On a per-share basis, the Houston-based company said it had net income of 40 cents.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.

The oil and gas holding company posted revenue of $8.25 billion in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $9.92 billion.

Plains GP shares have climbed 12% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $22.54, a drop of 11% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PAGP at https://www.zacks.com/ap/PAGP

All contents © copyright 2019 The Associated Press. All rights reserved.