Plains All American Q3 adj EBITDA $662M, raises FY23 guidance, hikes distribution 19%, buys Permian assets

PLAINS ALL AMERICAN PIPELINE LP

Q3 2023 Net income attributable to PAA $203M (down 47% YoY); diluted EPS $0.20 (down 58%).
Adjusted EBITDA attributable to PAA $662M, up 6% YoY. Full-year guidance raised to $2.60-$2.65B from $2.45-$2.55B.
Management to recommend 19% distribution increase to $1.27 annualized per unit for Q4 2023 payable Feb 2024.
Long-term leverage target reduced by 0.5x to 3.25x-3.75x; expects year-end 2023 leverage below 3.5x.
Permian JV bought Rattler Midstream and LM Energy crude gathering systems for $205M cash ($135M net to PAA).

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PLAINS ALL AMERICAN PIPELINE LP reported third-quarter 2023 results: net income $203 million. Guidance raised.

Period: third-quarter 2023
Net income: $203 million
Guidance: raised
Result: reported results

Exact text from the filing

Plains All American Reports Third-Quarter 2023 Results & Raises 2023 Guidance

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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 0001070423-23-000021

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