Plains All American Q2 Adjusted EBITDA $674M; raises 2024 guidance by $75M

PLAINS ALL AMERICAN PIPELINE LP

Net income attributable to PAA $250M ($0.26 diluted EPS); adjusted net income $288M ($0.31 diluted).
Adjusted EBITDA attributable to PAA $674M, up 13% YoY; raises full-year 2024 guidance to $2.725-2.775B.
Q2 distribution declared $0.3175/unit, up 19% YoY; implied DCF per unit $0.58.
Priced $650M senior notes at 5.7% due 2034; net cash provided by ops $653M.
Adjusted Free Cash Flow (excl A&L) $421M; reaffirms FY 2024 AFFC guidance of $1.55B.

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