Plains All American Q3 net income $384M, raises FY22 EBITDA guide to $2.45B, boosts distribution

PLAINS GP HOLDINGS LP

Q3 net income attributable to PAA $384M vs ($59M) loss a year ago; adjusted EBITDA $623M.
FY2022 adjusted EBITDA guidance raised $75M to +/- $2.45B, up $250M from initial Feb guidance.
Management recommends annualized distribution increase from $0.87 to $1.07 per unit/Class A share for Q4 2022.
Beyond 2023, expects annual distribution increases of ~$0.15/unit until coverage ratio ~160%.
Year-end 2022 leverage ratio expected ~3.8x, below mid-point of targeted 3.75x-4.25x range.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PLAINS GP HOLDINGS LP reported Three Months Ended September 30, 2022 results: net income $ 384, EPS $ 0.48. Guidance raised.

Period: Three Months Ended September 30, 2022
Net income: $ 384
EPS: $ 0.48
Guidance: raised
Result: reported results

Exact text from the filing

Plains All American Pipeline Summary Financial Information (unaudited) (in millions, except per unit data) Three Months Ended September 30, % Nine Months Ended September 30, % GAAP Results 2022 2021 Change 2022 2021 Change Net income/(loss) attributable to PAA $ 384 $ (59) ** $ 774 $ 143 ** Diluted net income/(loss) per common unit $ 0.48 $ (0.15) ** $ 0.89 $ (0.01) **

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

PLAINS GP HOLDINGS LP filing history →

Source: SEC EDGAR

accession 0001581990-22-000020

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