Plains All American Q3 net income $384M, raises FY2022 guidance, plans distribution increase

PLAINS ALL AMERICAN PIPELINE LP

Net income of $384M vs loss of $59M YoY; diluted EPS $0.48 vs ($0.15).
Adjusted EBITDA attributable to PAA $623M, up 21% YoY; full-year guidance raised to ~$2.45B.
Leverage ratio at ~4.0x, expected year-end ~3.8x, below mid-point of target range.
Management to recommend Q4 distribution increase of $0.20 annualized to $1.07/unit (payable Feb 2023).
Plan for annual distribution increases of ~$0.15/unit beyond 2023 until coverage ratio ~160%.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PLAINS ALL AMERICAN PIPELINE LP reported third-quarter 2022 results: net income $384 million, EPS $0.48. Guidance raised.

Period: third-quarter 2022
Net income: $384 million
EPS: $0.48
Guidance: raised
Result: reported results

Exact text from the filing

Plains All American Reports Third-Quarter 2022 Results, Increases 2022 Guidance and Announces Multi-Year Capital Allocation Framework Houston, TX – November 2, 2022 – Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) today reported third-quarter 2022 results and provided the following highlights and increase to 2022 guidance: • Third-quarter Net income attributable to PAA of $384 million

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13 earnings releases filed in the last 30 days. Browse all earnings releases →

PLAINS ALL AMERICAN PIPELINE LP filing history →

Source: SEC EDGAR

accession 0001070423-22-000022

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