{"schema_version":"secwatch.filing_event.v1","accession":"0001070423-23-000009","form_type":"8-K","ticker":"PAA","cik":"0001070423","company_name":"PLAINS ALL AMERICAN PIPELINE LP","filed_at":"2023-05-05T23:59:59+00:00","discovered_at":"2026-05-14T18:03:37.856113+00:00","generated_at":"2026-06-15T15:49:32.068136+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Plains All American Q1 net income $422M, Adj EBITDA $715M, reaffirms 2023 guidance","bullets":["Net income attributable to PAA $422M (vs $187M YoY); diluted EPS $0.52 (up 174%).","Adjusted EBITDA attributable to PAA $715M (up 16% YoY); Free Cash Flow $823M incl. $284M asset sales.","Reduced total debt by ~$450M; annualized common distribution raised $0.20 to $1.07/unit (23% increase).","Reaffirmed 2023 guidance: Adj EBITDA $2.45-2.55B, year-end leverage ~3.5x, distribution coverage ~215%.","Expect ~$1.6B Free Cash Flow in 2023; capex $325M investment + $195M maintenance net to PAA."],"urls":{"canonical":"https://secwatch.observer/filing/0001070423-23-000009","json":"https://secwatch.observer/filing/0001070423-23-000009.json","markdown":"https://secwatch.observer/filing/0001070423-23-000009.md","text":"https://secwatch.observer/filing/0001070423-23-000009.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1070423/000107042323000009/0001070423-23-000009-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1070423/000107042323000009/paa-20230505.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T15:49:32.068136+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"bdabf21607f0ab65ef184d3b45554e020f4729f3","claim":"PLAINS ALL AMERICAN PIPELINE LP reported Three Months Ended March 31, 2023 results: net income $ 422, EPS $ 0.52. Guidance reaffirmed.","evidence_excerpt":"Three Months Ended March 31, % GAAP Results 2023 2022 Change Net income attributable to PAA $ 422 $ 187 126 % Diluted net income per common unit $ 0.52 $ 0.19 174 %","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1070423/000107042323000009/0001070423-23-000009-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"Three Months Ended March 31, 2023"},{"label":"Net income","value":"$ 422"},{"label":"EPS","value":"$ 0.52"},{"label":"Guidance","value":"reaffirmed"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}