Plains GP Holdings (PAGP) Tops Q1 EPS by 5c, Beats on Revenues

Plains GP Holdings (NYSE: PAGP) reported Q1 EPS of $0.36, $0.05 better than the analyst estimate of $0.31. Revenue for the quarter came in at $8.4 billion versus the consensus estimate of $6.76 billion.

First-Quarter Highlights

• Delivered 1Q18 financial and operating results slightly ahead of expectations
• Approximately $60 million year-over-year fee-based Segment Adjusted EBITDA growth ($80 million when taking into consideration impact of divested assets)
• On target with leverage reduction plans and execution of expansion capital program
• Reiterated 2018 guidance, expect full-year common unit distribution coverage of ~170%
• Continue to expect 14-15% fee-based Segment Adjusted EBITDA growth in 2019

For earnings history and earnings-related data on Plains GP Holdings (PAGP) click here.

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