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Plains All American beats estimates on Q2 adjusted EBITDA, but profit falls

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Plains All American beats estimates on Q2 adjusted EBITDA, but profit falls

Plains All American Pipeline LP on Aug. 7 posted second-quarter adjusted EBITDA of $506 million, an increase from $451 million a year earlier.

The S&P Global Market Intelligence consensus estimate of adjusted EBITDA was $478.6 million.

The partnership's distributable cash flow in the second quarter was $849 million, a decrease from $1.31 billion in the year-earlier period. Plains reported net income of $100 million, a decrease from $188 million a year earlier.

Plains GP Holdings LP separately reported net income attributable to the general partner of $100 million for the quarter, compared to a loss of $93 million in the same quarter of 2017.