PAA pro forma shows 2025 net income down to $975M from $1,052M on EPIC Crude acquisition

PLAINS ALL AMERICAN PIPELINE LP

Pro forma 2025 revenue rises to $44,464M from $44,262M; operating income up to $1,524M from $1,434M.
Net income attributable to PAA drops to $975M from $1,052M; EPS falls to $1.01 from $1.12.
Acquisition of 100% EPIC Crude Holdings (Cactus III Pipeline) completed in two steps: 55% from Diamondback/Kinetik, 45% from Ares.
Pro forma adjustments include $94M added interest expense on $1,901M debt at SOFR+1.125%.
Incremental depreciation of $47M and amortization of $55M offset elimination of EPIC's $96M D&A.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.