Plains All American Q3 net income $220M; guidance toward high-end of $2.725-$2.775B

PLAINS ALL AMERICAN PIPELINE LP

Net income $220M ($0.22 diluted EPS) vs $203M a year ago; Adj. EBITDA attributable $659M.
Full-year 2024 Adj. EBITDA guidance expected at high-end of $2.725-$2.775B range.
Leverage ratio 3.0x below target; Moody's upgraded PAA to Baa2 from Baa3.
Resolved Line 901 claims with two lawsuit settlements resulting in $120M GAAP charge.
Distribution declared $0.3175/unit, up 19% YoY; Q3 Adj. Free Cash Flow $401M.

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