---
schema_version: "secwatch.filing_event.v1"
accession: "0001070423-23-000015"
form_type: "8-K"
ticker: "PAA"
cik: "0001070423"
company_name: "PLAINS ALL AMERICAN PIPELINE LP"
filed_at: "2023-08-04T23:59:59+00:00"
generated_at: "2026-06-12T05:34:43.326450+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Plains All American Q2 net income up 44% to $293M; guides to high-end of EBITDA range, announces Permian bolt-on

## Summary
- Net income $293M (+44% YoY); Adj. EBITDA $597M (-3%); Free Cash Flow $650M.
- Acquired Diamondback’s 43% stake in OMOG JV for ~$225M ($145M net to PAA); closed July 28.
- Sanctioned Fort Sask debottlenecking (~30 Mb/d capacity); extended contract tenors to ~10 years; 2024 expiration of frac exposure offset.
- Expects 2023 Adj. EBITDA at high-end of $2.45-$2.55B; leverage <3.5x; FCF ~$1.6B; dividend raised 23% to $0.2675/unit.

## SEC filing metadata
- accession: 0001070423-23-000015
- form_type: 8-K
- ticker: PAA
- cik: 0001070423
- company_name: PLAINS ALL AMERICAN PIPELINE LP
- filed_at: 2023-08-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1070423/000107042323000015/0001070423-23-000015-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1070423/000107042323000015/paa-20230804.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001070423-23-000015
- JSON: https://secwatch.observer/filing/0001070423-23-000015.json
- Plain text: https://secwatch.observer/filing/0001070423-23-000015.txt

## Key facts
- Earnings Releases
  PLAINS ALL AMERICAN PIPELINE LP reported second-quarter 2023 results: net income Net income attributable to PAA of $293 million, EPS $0.32 per diluted share.
  - Period: second-quarter 2023
  - Net income: Net income attributable to PAA of $293 million
  - EPS: $0.32 per diluted share
  - Result: reported results
  source text: Plains All American Reports Second-Quarter 2023 Results and Provides Updated 2023 Guidance
  evidence_url: https://www.sec.gov/Archives/edgar/data/1070423/000107042323000015/0001070423-23-000015-index.htm
- Earnings Releases
  PLAINS ALL AMERICAN PIPELINE LP updated its full-year 2023 guidance (reaffirmed).
  - Period: full-year 2023
  - Guidance: reaffirmed
  - Result: guidance update
  source text: Maintaining 2023 investment and maintenance capital guidance of $325 million and $195 million respectively
  evidence_url: https://www.sec.gov/Archives/edgar/data/1070423/000107042323000015/0001070423-23-000015-index.htm

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