Plains All American Q1 net income $152M; raises 2026 EBITDA midpoint by $130M

PLAINS ALL AMERICAN PIPELINE LP

Q1 GAAP net income $152M ($0.14/unit) vs $443M YoY; adjusted net income $325M ($0.39/unit).
Q1 Adjusted EBITDA attributable to PAA $730M ($852M total); declared $0.4175/unit distribution (10% increase).
Raises FY 2026 Adj. EBITDA guidance midpoint to $2.880B (+$130M); growth capex $350M, maintenance $185M.
Pro forma leverage 4.1x; targeting 3.25-3.75x after closing NGL divestiture to Keyera (expected May 2026).
FY 2026 Adjusted Free Cash Flow guidance raised to ~$1.850B (excl. NGL proceeds and working capital changes).

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 2026 results: net income Net income attributable to PAA of $152 million, EPS $0.14. Guidance raised.

Period: first-quarter 2026
Net income: Net income attributable to PAA of $152 million
EPS: $0.14
Guidance: raised
Result: reported results

Exact text from the filing

PAGP) today reported first-quarter 2026 results and raised full-year 2026 Adjusted EBITDA Guidance. First-Quarter 2026 Results • First-quarter Net income attributable to PAA of $152 million and Net cash provided by operating activities of $418 million • Delivered first-quarter Adjusted EBITDA attributable to PAA of $730 million • Pro forma leverage ratio of 4.1x at

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

PLAINS ALL AMERICAN PIPELINE LP filing history →

Source: SEC EDGAR

accession 0001070423-26-000017

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