PAA Q4 net income $312M, Adj EBITDA above guidance; raises distribution 19%

PLAINS ALL AMERICAN PIPELINE LP

Q4 net income $312M; full-year $1.23B (up 19% YoY). Adj EBITDA $737M in Q4, $2.71B full year (above top end of guidance).
Board approved increasing annualized distribution to $1.27/unit (+$0.20, +19% vs 2023), starting Feb 2024.
2024 guidance: Adj EBITDA $2.625-2.725B; leverage target reaffirmed 3.25x-3.75x; expects ~$1.65B adj free cash flow.
Full-year 2023 Adj Free Cash Flow (excl working capital) $1.60B; achieved year-end leverage of 3.1x.
Received two credit rating upgrades in 2023; completed two asset sales and three bolt-on acquisitions.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

PLAINS ALL AMERICAN PIPELINE LP reported twelve months ended December 31, 2023 results: net income 1.23 billion.

Period: twelve months ended December 31, 2023
Net income: 1.23 billion
Result: reported results

Exact text from the filing

Full-year 2023 Net income attributable to PAA of $312 million and $1.23 billion, respectively

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PLAINS ALL AMERICAN PIPELINE LP updated its full-year 2024 guidance (reaffirmed).

Period: full-year 2024
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

Reaffirming leverage ratio target range of 3.25x - 3.75x reflecting commitment to balance sheet strength and flexibility

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

PLAINS ALL AMERICAN PIPELINE LP reported three months ended December 31, 2023 results: net income 312 million.

Period: three months ended December 31, 2023
Net income: 312 million
Result: reported results

Exact text from the filing

Fourth-quarter and full-year 2023 Net income attributable to PAA of $312 million and $1.23 billion, respectively

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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 0001070423-24-000004

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