Plains All American Pipeline Reports Q4 Earnings Beat, Revenue Miss
May 7, 2023
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The Non-GAAP Earnings Per Share (EPS) was $0.41, which exceeded expectations by $0.05. While the EPS beat estimates, PLAINS ($NASDAQ:PAA)’s total revenue of $12.34B fell short of expectations by $2.09B. PLAINS is a leading midstream energy infrastructure company in the United States and Canada.
The company’s business consists of transporting, storing, terminalling, marketing and gathering crude oil, natural gas liquids (NGL), refined products and other hydrocarbons. It also provides crude oil gathering and disposal services to exploration and production companies in the Permian Basin and elsewhere.
Earnings
Plains All American Pipeline (PLAINS), a leading provider in the oil and gas industry, recently released their Q4 earnings report for FY2022 ending December 31, 2022. According to the report, the company generated a total of 12952.0M USD in revenue and had a net income of 263.0M USD. This compares to 0.0% decrease in total revenue year-over-year, and a 41.6% decrease in net income year-over-year.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for PAA. More…
| Total Revenues | Net Income | Net Margin |
| 57.34k | 831 | 2.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for PAA. More…
| Operations | Investing | Financing |
| 2.41k | -526 | -1.93k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for PAA. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 27.89k | 14.57k | 14.4 |
Key Ratios Snapshot
Some of the financial key ratios for PAA are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 19.4% | -8.2% | 3.2% |
| FCF Margin | ROE | ROA |
| 3.4% | 11.4% | 4.1% |
Share Price
Despite this, shares of PLAINS ALL AMERICAN PIPELINE rose 5.3% on Friday, opening at $12.5 and closing at $12.9. This marks a notable increase from their last closing price of $12.3. Live Quote…
Analysis
At GoodWhale, we strive to provide our users with the best analysis of fundamentals for companies. In this case, we’ve conducted an analysis of PLAINS ALL AMERICAN PIPELINE’s financial and business aspects. According to our Risk Rating, PLAINS ALL AMERICAN PIPELINE is a low risk investment when it comes to financial and business aspects. More detailed insights can be accessed by registering as a user with GoodWhale. By doing so, you will be able to check out the business and financial areas in which PLAINS ALL AMERICAN PIPELINE has potential risks, as well as have access to recommendations of how to manage them. We believe that our analysis of PLAINS ALL AMERICAN PIPELINE can give you the best understanding of its fundamental strengths and weaknesses. More…
Peers
Plains All American Pipeline LP, Plains GP Holdings LP, MPLX LP, and Valero Energy Corp are all leading companies in the oil and gas industry. They are all engaged in the transportation, storage, and marketing of crude oil and refined petroleum products. These companies have a significant impact on the global energy market.
– Plains GP Holdings LP ($NASDAQ:PAGP)
Plains GP Holdings LP is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for the crude oil, natural gas, and natural gas liquids industries in the United States and Canada. The company’s market cap is $2.37B as of 2022 and its ROE is 79.65%. The company is headquartered in Houston, Texas.
– MPLX LP ($NYSE:MPLX)
MPLX LP is a publicly traded master limited partnership that owns and operates a diversified portfolio of midstream energy assets. The company’s assets include crude oil and refined products pipelines, storage facilities, and terminals. MPLX LP is headquartered in Findlay, Ohio.
MPLX LP has a market cap of $32.72 billion as of 2022. The company has a return on equity of 20.4%. MPLX LP’s assets include crude oil and refined products pipelines, storage facilities, and terminals. The company is headquartered in Findlay, Ohio.
– Valero Energy Corp ($NYSE:VLO)
Valero Energy Corp is a publicly traded company with a market capitalization of $49.03 billion as of 2022. The company is engaged in the business of refining and marketing petroleum products and related services. Valero Energy Corp has a return on equity of 30.7%.
Summary
Despite the missed revenue target, investors responded positively and the stock price moved up the same day. Overall, investors appear to have been encouraged by the solid earnings beat and are optimistic about the company’s performance going forward.
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