Plains All American profit falls 13% on supply/logistics weakness

|About: Plains All American Pipelin... (PAA)|By:, SA News Editor

Plains All American Pipeline (PAA) flat AH after reporting its Q4 earnings fell 13%, hurt by weaker adjusted results at its supply and logistics business.

Supply/logistics fell 22% in adjusted profit, mostly due to less favorable crude oil market conditions, particularly narrower crude oil differentials in the Permian Basin and Gulf Coast regions.

Transportation segment posted adjusted earnings growth of 8%, mostly on higher oil pipeline volume; facilities segment adjusted profit added 20%, mostly the result of increased crude oil rail activities.

Raised 2014 capital spending plans to $1.7B, $300M higher than PAA's earlier target.