The partnership reported EBITDA of $180 million for the first quarter of 2008, compared with EBITDA of $166 million for the first quarter of 2007. The partnership’s first quarter 2008 adjusted net income, adjusted net income per diluted limited partner unit and adjusted EBITDA were $103 million, $0.66 and $191 million, compared to $120 million, $0.92 and $201 million for the same period of 2007, respectively.
Greg Armstrong, chairman and CEO of Plains All American Pipeline, said: The partnership delivered solid baseline operating and financial results for the first quarter of 2008, with all three segments performing in line with or ahead of the midpoint of public guidance.
As expected, adjusted EBITDA for the current year quarter was approximately 5% below the first quarter of 2007, a period during which the partnership experienced very favorable market conditions.
