Plains All American Pipeline (PAA - Free Report) is scheduled to release third-quarter 2019 results on Nov 5, after market close. In the last reported quarter, the company delivered a positive earnings surprise of 52.27%.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
Plains All American Pipeline issued senior notes worth $1 billion to refinance outstanding debt in the third quarter, which is expected to have lowered interest expenses. The firm reduced long-term debt by 22.9% from 2016 level, which led to 6.4% decline in interest expenses in the first-half of 2019.
The firm started commercial operation of a new crude oil pipeline — Cactus II — with a capacity of 670 thousand barrel per day in August. This is likely to have contributed to the third-quarter top line. The firm recorded solid fee-based earnings from the transportation segment in the first-half of 2019. The trend is likely to have continued in the to-be-reported quarter, which in turn, might have boosted the company’s revenues.
The Zacks Consensus Estimate for third-quarter earnings is pegged at 39 cents per share, which suggests a decline of 9.3% from the year-ago quarter’s reported number. The Zacks Consensus Estimate for third-quarter revenues is pegged at $7.88 billion, which indicates a fall of 10.37% from the year-ago quarter’s reported figure.
Earning Whisper
Our proven model predicts an earnings beat for Plains All American Pipeline this earnings season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.
Earnings ESP: The company’s Earnings ESP is +0.43%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Plains All American Pipeline carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Plains All American Pipeline (PAA - Free Report) is scheduled to release third-quarter 2019 results on Nov 5, after market close. In the last reported quarter, the company delivered a positive earnings surprise of 52.27%.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
Plains All American Pipeline issued senior notes worth $1 billion to refinance outstanding debt in the third quarter, which is expected to have lowered interest expenses. The firm reduced long-term debt by 22.9% from 2016 level, which led to 6.4% decline in interest expenses in the first-half of 2019.
The firm started commercial operation of a new crude oil pipeline — Cactus II — with a capacity of 670 thousand barrel per day in August. This is likely to have contributed to the third-quarter top line. The firm recorded solid fee-based earnings from the transportation segment in the first-half of 2019. The trend is likely to have continued in the to-be-reported quarter, which in turn, might have boosted the company’s revenues.
The Zacks Consensus Estimate for third-quarter earnings is pegged at 39 cents per share, which suggests a decline of 9.3% from the year-ago quarter’s reported number. The Zacks Consensus Estimate for third-quarter revenues is pegged at $7.88 billion, which indicates a fall of 10.37% from the year-ago quarter’s reported figure.
Earning Whisper
Our proven model predicts an earnings beat for Plains All American Pipeline this earnings season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.
Earnings ESP: The company’s Earnings ESP is +0.43%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Plains All American Pipeline carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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