* Q3 profit $0.59/unit beats est by 2 cents
* Q3 rev $4.86 bln vs est of $4.27 bln
Nov 4 (Reuters) - Plains All American Pipeline LP posted third-quarter earnings that beat analysts estimates, helped by lower costs.
In the latest quarter, the oil and gas pipeline operator posted a net income of $122 million, or 65 cents a unit, compared with $206 million, or $1.41 a unit, a year ago. Excluding items, it earned 59 cents a share.
Revenue for the quarter dropped 45 percent to $4.86 billion.
Analysts, on average, were looking for earnings of 57 cents a unit, before items, on revenue of $4.27 billion, according to Thomson Reuters I/B/E/S.
Shares of the Houston, Texas-based company closed at $48.24 Wednesday on the New York Stock Exchange.
(Reporting by Antonita Madonna Devotta in Bangalore; Editing by Pradeep Kurup) Keywords: PLAINSALLAMERICAN/ (antonita.madonna@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters messaging: antonita.madonna.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Q3 rev $4.86 bln vs est of $4.27 bln
Nov 4 (Reuters) - Plains All American Pipeline LP posted third-quarter earnings that beat analysts estimates, helped by lower costs.
In the latest quarter, the oil and gas pipeline operator posted a net income of $122 million, or 65 cents a unit, compared with $206 million, or $1.41 a unit, a year ago. Excluding items, it earned 59 cents a share.
Revenue for the quarter dropped 45 percent to $4.86 billion.
Analysts, on average, were looking for earnings of 57 cents a unit, before items, on revenue of $4.27 billion, according to Thomson Reuters I/B/E/S.
Shares of the Houston, Texas-based company closed at $48.24 Wednesday on the New York Stock Exchange.
(Reporting by Antonita Madonna Devotta in Bangalore; Editing by Pradeep Kurup) Keywords: PLAINSALLAMERICAN/ (antonita.madonna@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters messaging: antonita.madonna.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
