---
schema_version: "secwatch.filing_event.v1"
accession: "0001070423-24-000011"
form_type: "8-K"
ticker: "PAA"
cik: "0001070423"
company_name: "PLAINS ALL AMERICAN PIPELINE LP"
filed_at: "2024-05-03T23:59:59+00:00"
generated_at: "2026-06-02T22:52:29.233021+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001070423-24-000011
- form_type: 8-K
- ticker: PAA
- cik: 0001070423
- company_name: PLAINS ALL AMERICAN PIPELINE LP
- filed_at: 2024-05-03T23:59:59+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/1070423/000107042324000011/0001070423-24-000011-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1070423/000107042324000011/paa-20240503.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001070423-24-000011
- JSON: https://secwatch.observer/filing/0001070423-24-000011.json
- Plain text: https://secwatch.observer/filing/0001070423-24-000011.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1070423/000107042324000011/0001070423-24-000011-index.htm

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