---
schema_version: "secwatch.filing_event.v1"
accession: "0001070423-22-000022"
form_type: "8-K"
ticker: "PAA"
cik: "0001070423"
company_name: "PLAINS ALL AMERICAN PIPELINE LP"
filed_at: "2022-11-02T23:59:59+00:00"
generated_at: "2026-06-22T11:46:45.271273+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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%.

## SEC filing metadata
- accession: 0001070423-22-000022
- form_type: 8-K
- ticker: PAA
- cik: 0001070423
- company_name: PLAINS ALL AMERICAN PIPELINE LP
- filed_at: 2022-11-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1070423/000107042322000022/0001070423-22-000022-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1070423/000107042322000022/paa-20221102.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001070423-22-000022
- JSON: https://secwatch.observer/filing/0001070423-22-000022.json
- Plain text: https://secwatch.observer/filing/0001070423-22-000022.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1070423/000107042322000022/0001070423-22-000022-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.