Plains All American Pipeline raises full-year guidance to $2.88 billion

1 articles · Updated · MarketWatch · May 8

The company reported first-quarter net income of $152 million, or 14 cents a share, on revenue of $12.47 billion, while adjusted earnings of 39 cents beat analysts' expectations.
Plains lifted the midpoint of adjusted EBITDA guidance by $130 million, citing a stronger crude market as Middle East conflict disrupts supply and boosts demand for secure US-linked energy flows.
Chief executive Willie Chiang said global events have accelerated the company's view of a more constructive oil market, highlighting its network linking US crude production to global markets.

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