secwatch.observer — SEC 8-K summary
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Issuer:     PLAINS ALL AMERICAN PIPELINE LP (PAA)
CIK:        0001070423
Form:       8-K
Filed at:   2024-05-03T23:59:59+00:00
Accession:  0001070423-24-000011
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1070423/000107042324000011/0001070423-24-000011-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1070423/000107042324000011/paa-20240503.htm
  HTML page:      https://secwatch.observer/filing/0001070423-24-000011

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer