Plains All American rises after posting upbeat Q1 profit

Plains All American Pipeline LP

03/05/2024 17:52

** Pipeline and storage operator Plains All American
Pipeline LP's  PAA.O  shares up 1.6% at $17.51
        ** Company beats Q1 2024 profit estimates helped by
higher crude oil pipeline tariff volumes
    ** Posts Q1 adj. EPS of 41 cents vs est. 39 cents/shr - LSEG
    ** Quarterly crude oil pipeline tariff volumes rose to 8.6
mln barrels per day (bpd), ~4% higher compared to 8.3 mln bpd in
Q1 2023
    ** Company raises stake in Saddlehorn Pipeline Company joint
venture and a mid-Continent basin terminal asset by 10% for
about $110 mln in cash
    ** Including session's gains, PAA up ~15% YTD

 (Reporting by Roshia Sabu in Bengaluru)
 ((Roshia.Sabu@thomsonreuters.com))