{"schema_version":"secwatch.filing_event.v1","accession":"0001070423-26-000028","form_type":"8-K","ticker":"PAA","cik":"0001070423","company_name":"PLAINS ALL AMERICAN PIPELINE LP","filed_at":"2026-08-07T13:14:58+00:00","discovered_at":"2026-08-07T13:16:00.271371+00:00","generated_at":"2026-08-07T13:16:08.369017+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"PAA Q2: net income $1.83B on Canadian NGL sale; adjusted EBITDA $738M, up 10% YoY","bullets":["Q2 net income $1.830B incl. ~$1.6B gain on Canadian NGL sale to Keyera; diluted EPS $2.51 vs $0.21 prior year.","Adjusted EBITDA attributable to PAA $738M, up 10% YoY; adjusted EPS $0.41 vs $0.36; distribution raised 10% to $0.4175/unit.","Closed Canadian NGL Business sale May 12, 2026 to Keyera; used ~$2.9B proceeds for debt reduction, leverage now 3.3x.","2026 organic growth capex raised to $400-450M (from $350M) incl. 75 Mb/d Cactus III expansion; maintenance capex cut $10M to $175M.","Captured $50M Cactus III synergies; on track for $50M cost reductions through year-end 2026."],"urls":{"canonical":"https://secwatch.observer/filing/0001070423-26-000028","json":"https://secwatch.observer/filing/0001070423-26-000028.json","markdown":"https://secwatch.observer/filing/0001070423-26-000028.md","text":"https://secwatch.observer/filing/0001070423-26-000028.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1070423/000107042326000028/0001070423-26-000028-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1070423/000107042326000028/paa-20260807.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-08-07T13:16:08.369017+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}