secwatch.observer — SEC 8-K summary
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Issuer:     PLAINS ALL AMERICAN PIPELINE LP (PAA)
CIK:        0001070423
Form:       8-K
Filed at:   2026-08-07T13:14:58+00:00
Accession:  0001070423-26-000028
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PAA Q2: net income $1.83B on Canadian NGL sale; adjusted EBITDA $738M, up 10% YoY
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1070423/000107042326000028/0001070423-26-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1070423/000107042326000028/paa-20260807.htm
  HTML page:      https://secwatch.observer/filing/0001070423-26-000028

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