Houston’s Plains All American Pipeline posted a $100 million quarterly profit that dipped from last year, but still managed to exceed most of Wall Street’s expectations.
Plains’ second-quarter profit fell from $188 million during the same three months last year, but that’s largely because Plains is spending more to build major Texas oil pipelines. Plains’ $8.1 billion in quarterly revenues jumped 33 percent from $6.1 billion in 2017.
Source: FuelFix