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Plains All American Pipeline full-year 2017 earnings edge past expectations

Plains All American Pipeline LP reported fourth-quarter adjusted EBITDA of $631 million, an increase from $600 million in the prior-year period.

The S&P Capital IQ consensus estimate of adjusted EBITDA for the quarter was $624.9 million.

The partnership's distributable cash flow in the quarter was $419 million, an increase from $267 million in the prior-year period. Plains All American Pipeline also reported net income attributable to the partnership of $191 million, up from $126 million a year earlier.

For the full year, the partnership reported adjusted EBITDA of $2.08 billion, down 4% from $2.17 billion in the prior year. The S&P Capital IQ consensus estimate of adjusted EBITDA for the year was $2.07 billion.

The partnership's distributable cash flow for 2017 was at $1.31 billion, up from $849 million in 2016.

Plains GP Holdings LP separately reported a net loss attributable to the general partner of $800 million for the quarter, compared to a loss of $8 million in the same quarter of 2016. Full-year net loss attributable to the general partner was at $731 million, down from a net income of $94 million reported in 2016.