Plains All American Pipeline LP on Aug. 7 reported $149 million of second-quarter adjusted net income available to common unit holders, or 21 cents per unit, compared to a loss of $47 million, or 12 cents per unit, in the year-ago quarter.

The S&P Capital IQ consensus normalized EPS estimate for the second quarter of 2017 was 25 cents.

GAAP net income attributable to the partnership came in at $188 million, compared to $101 million in the corresponding period in 2016. Adjusted EBITDA for the quarter came in at $451 million, down from $474 million during the same period of 2016. The partnership's implied distributable cash flow was $289 million for the second quarter, compared to $314 million in the year-ago period.

The transportation segment's adjusted EBITDA increased by 9% over comparable 2016 results, which the partnership attributed to increased volume in the Permian Basin assets including contributions from the Alpha Crude Connector gathering system acquired in February and from newly commissioned systems.

The facilities segment's adjusted EBITDA grew 12% versus comparable 2016 results, driven by contributions from the Canadian NGL assets acquired in August 2016, along with higher fees at certain of the partnership’s NGL storage and fractionation facilities.

"Unfortunately, we continue to experience significant downward pressure in our margin-based supply and logistics segment," said Greg Armstrong, chairman and CEO of the partnership. "As a result, we updated our full-year 2017 adjusted EBITDA guidance and our 2018 preliminary forecast." The new 2017 guidance is $2.08 billion, or 8% lower, and the 2018 forecast is a range of $2.45 billion to $2.65 billion.

Plains GP Holdings LP separately reported net income of $24 million for the quarter, compared to $42 million in the same quarter of 2016.