HOUSTON (AP) _ Plains All American Pipeline L.P. (PAA) on Monday reported third-quarter net income of $33 million.
The Houston-based company said it had profit of 1 cent per share. Earnings, adjusted for non-recurring costs, came to 21 cents per share.
The results fell short of Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.
The oil and gas transportation and storage company posted revenue of $5.87 billion in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $6.31 billion.
Plains All American shares have declined 36 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $20.77, a decrease of 27 percent in the last 12 months.