* Second-quarter adj EPS $1.64 vs est $1.65
* Second-quarter rev $9.79 bln vs est $10.62 bln
Aug 6 Plains All American Pipeline LP's
quarterly profit missed analysts' estimates by a cent on higher
costs even as demand for transporting crude oil rose.
The company's net income rose to $378 million, or $1.85 per
unit, for the second quarter, from $225 million, or $1.13 per
unit, a year earlier.
Excluding one-time items, the company earned $1.64 per
Revenue rose 11 percent to $9.79 billion.
Analysts had expected a profit of $1.65 per share on revenue
of $10.62 billion, according to Thomson Reuters I/B/E/S.
Plains, whose buyout bid was rebuffed by smaller rival
SemGroup Corp in May, said field operating costs at its
largest segment, supply and logistics, rose 43 percent.
The company is a major crude oil storage operator in
Oklahoma's Cushing, which has witnessed growing volumes of crude
flow into the landlocked midcontinent region from prolific oil
fields in Canada and shale oil deposits in the northern U.S.
Shares of the company closed at $87.35 on Monday on the New
York Stock Exchange.