PAA Natural Gas Storage Q2 Profit Down

(RTTNews) - PAA Natural Gas Storage L.P. (PNG) Monday reported second-quarter net income of $16.6 million or $0.22 per limited partner unit, compared to $17.0 million or $0.23 per limited partner unit last year.

Adjusted net income for the quarter was $18.0 million or $0.24 per limited partner unit, compared to $18.6 million or $0.25 per limited partner unit last year. Analysts polled by Thomson Reuters expected the company to earn $0.19 per unit for the first quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter rose to $115.6 million from $100.1 million last year. Analysts estimated revenues of $111.72 million for the quarter.