Plains All American Pipeline, L.P. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 03, 2022 at 04:16 pm EDT
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Plains All American Pipeline, L.P. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 16,359 million compared to USD 9,930 million a year ago. Net income was USD 203 million compared to net loss of USD 220 million a year ago. Basic earnings per share from continuing operations was USD 0.22 compared to basic loss per share from continuing operations of USD 0.37 a year ago. Diluted earnings per share from continuing operations was USD 0.22 compared to diluted loss per share from continuing operations of USD 0.37 a year ago.
For the six months, sales was USD 30,053 million compared to USD 18,313 million a year ago. Net income was USD 390 million compared to USD 202 million a year ago. Basic earnings per share from continuing operations was USD 0.41 compared to USD 0.14 a year ago. Diluted earnings per share from continuing operations was USD 0.41 compared to USD 0.14 a year ago.
Plains All American Pipeline, L.P. is a midstream service provider in North America. The Company owns a network of pipeline transportation, terminalling, storage and gathering assets in key crude oil and natural gas liquids (NGL) producing basins (including the Permian Basin) and transportation corridors and at major market hubs in the United States and Canada. It has two segments: Crude Oil and Natural Gas Liquids (NGL). Its Crude Oil segment operations generally consist of gathering and transporting crude oil using pipelines, gathering systems, trucks and at times on barges or railcars, in addition to providing terminalling, storage and other facilities-related services utilizing its integrated assets across the United States and Canada. Its NGL segment operations involve natural gas processing and NGL fractionation, storage, transportation and terminalling. NGL segment is involved in gathering, fractionation, storage, and/or terminalling services to third-party customers.
PLAINS ALL AMERICAN PIPELINE, L.P. 
