On Wednesday, Shares of Plains GP Holdings LP (NYSE:PAGP), lost -23.09% to $18.75.
Plains GP Holdings, through its interest in Plains AAP, L.P., owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids, natural gas, and refined products in the United States and Canada.
PAA stated solid second quarter results, with adjusted EBITDA of $486 million, which was about $26 million above the mid-point of our quarterly guidance range, said Greg L. Armstrong, Chairman and CEO of Plains All American. PAA will pay a quarterly distribution of $0.695 per limited partner unit next week, which is the equivalent of $2.78 per unit on an annualized basis, while PAGP will pay a quarterly distribution of $0.227 per Class A share, or $0.908 per share on an annualized basis. These distributions represent a 7.8% and 23.8% enhance over comparative distributions paid in the same quarter of 2014, respectively.
Plains GP Holdings, L.P., through its interest in Plains AAP, L.P., owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids, natural gas, and refined products in the United States and Canada.
Shares of Parker-Hannifin Corporation (NYSE:PH), inclined 2.69% to $110.80, during its last trading session.
Parker Hannifin Corporation, stated results for the fiscal 2015 fourth quarter and full year ended June 30, 2015. Fiscal 2015 fourth quarter sales were $3.14 billion, contrast with $3.53 billion in the same period a year ago, reflecting the effect of currency rate changes and weak end market demand. Fiscal 2015 fourth quarter net income was $179.6 million, contrast with $301.2 million in the preceding year quarter. Fiscal 2015 fourth quarter earnings per share were $1.27, contrast with $1.98 per share in the preceding year quarter. Adjusted earnings per share were $1.43 in the fiscal 2015 fourth quarter, contrast with $2.06 per share in the preceding year quarter. Fiscal 2015 fourth quarter earnings were negatively influenced by $0.30 per share as a result of a higher effective tax rate due to changes in the geographic mix of pre-tax profits and discrete items booked in the quarter. A reconciliation of as stated to adjusted segment operating margins and earnings per share is comprised of with the financial tables accompanying this news release.
“We continue to feel the effects of changes in currency rates and have been taking actions to adjust to weak macro-economic and end market conditions,” said Tom Williams, Chief Executive Officer. “Despite the noteworthy year over year sales decline, the company performed well with adjusted segment operating margins growing to 14.9 percent from 14.4 percent in fiscal 2014. We have seen a swift and meaningful drop in order rates in the second half of our fiscal year, and particularly in the fourth quarter. As communicated in April 2015, the company accomplished a voluntary early retirement program during the fourth quarter. We continue to see opportunities to reduce costs around the world. We are also launching our Simplification initiative as part of the refreshed Win Strategy. Our objectives are to reduce complexity, improve speed and reduce costs, all of which will enable us to better serve our customers. These strategies will assist build a more agile Parker that is better positioned to drive long-term, profitable growth and returns for shareholders.”
Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. It operates through two segments, Diversified Industrial and Aerospace Systems.
Finally, AerCap Holdings N.V. (NYSE:AER), ended its last trade with -0.11% loss, and closed at $46.75.
AerCap Holdings, will host an investor day on Thursday, September 10, 2015 to review the Group`s strategy and its operations. The event will take place between 8:30am to 12:30pm Eastern Time at the Waldorf Astoria Hotel (Vanderbilt Room), 301 Park Avenue New York, NY 10022. Presentations will start promptly at 9:00am.
AerCap Holdings N.V., an independent aircraft leasing company, engages in the leasing, financing, sale, and administration of commercial aircraft and engines. The company provides aircraft asset administration and corporate services, counting remarketing aircraft; collecting rental and maintenance payments, monitoring aircraft maintenance, monitoring and enforcing contract compliance, and accepting delivery and redelivery of aircraft; and conducting ongoing lessee financial performance reviews.
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