Plains All American Q1 net income $266M, Adj. EBITDA $718M; acquires 10% Saddlehorn for $110M

PLAINS ALL AMERICAN PIPELINE LP

Q1 Net income $266M ($0.29 diluted EPS); adj. net income $354M ($0.41 adj. EPS).
Adjusted EBITDA attributable to PAA $718M, flat YoY; reaffirmed FY2024 guidance $2.625-$2.725B.
Increased annualized common distribution by $0.20 to $1.27/unit (~19% increase), paid in February.
Acquired additional 10% interest in Saddlehorn Pipeline and a Mid-Con terminal for ~$110M cash.
Extended Permian long-haul contracts; weighted average duration ~5 years through 2028.

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 First-Quarter 2024 results: net income Net income attributable to PAA of $266 million, EPS Diluted net income per common unit $0.29. Guidance reaffirmed.

Period: First-Quarter 2024
Net income: Net income attributable to PAA of $266 million
EPS: Diluted net income per common unit $0.29
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Plains All American Reports First-Quarter 2024 Results Provides Update on Permian Long-Haul Contracting & Announces Bolt-on Acquisitions Houston, TX – May 3, 2024 – Plains All American Pipeline, L.P. (Nasdaq: PAA ) and Plains GP Holdings (Nasdaq: PAGP ) today reported first-quarter 2024 results and reaffirmed full-year 2024 Adjusted EBITDA guidance.

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201 earnings releases filed in the last 30 days. Browse all earnings releases →

PLAINS ALL AMERICAN PIPELINE LP filing history →

Source: SEC EDGAR

accession 0001070423-24-000011

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