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MI - PAA receives strong results from formerly weak segment - May 2019
Plains All American’s Q1 net income tripled YOY, although the $970 million was a 13% decline from 4Q18. The Q1 results were boosted by another strong quarter from its Supply and Logistics segment. Thanks to favorable crude differentials and improved NGL margins, the S&L segment’s adjusted EBITDA in Q1 came in at $278 million compared with $72 million in 1Q18 and $342 million in 4Q18. The segment buys US and Canadian crude, gas and NGLs, which it then stores or transports when the market is right. When arbitrage......
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