Plains All American Pipeline, L.P. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 02, 2022 at 04:32 pm EDT
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Plains All American Pipeline, L.P. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 14,336 million compared to USD 10,776 million a year ago. Net income was USD 384 million compared to net loss of USD 59 million a year ago. Basic earnings per share from continuing operations was USD 0.48 compared to basic loss per share from continuing operations of USD 0.15 a year ago. Diluted earnings per share from continuing operations was USD 0.48 compared to diluted loss per share from continuing operations of USD 0.15 a year ago.
For the nine months, sales was USD 44,390 million compared to USD 29,089 million a year ago. Net income was USD 774 million compared to USD 143 million a year ago. Basic earnings per share from continuing operations was USD 0.89 compared to basic loss per share from continuing operations of USD 0.01 a year ago. Diluted earnings per share from continuing operations was USD 0.89 compared to diluted loss per share from continuing operations of USD 0.01 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. 
