---
schema_version: "secwatch.filing_event.v1"
accession: "0001581990-22-000020"
form_type: "8-K"
ticker: "PAGP"
cik: "0001581990"
company_name: "PLAINS GP HOLDINGS LP"
filed_at: "2022-11-02T23:59:59+00:00"
generated_at: "2026-06-22T13:52:29.155266+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001581990-22-000020
- form_type: 8-K
- ticker: PAGP
- cik: 0001581990
- company_name: PLAINS GP HOLDINGS LP
- filed_at: 2022-11-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1581990/000158199022000020/0001581990-22-000020-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1581990/000158199022000020/pagp-20221102.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001581990-22-000020
- JSON: https://secwatch.observer/filing/0001581990-22-000020.json
- Plain text: https://secwatch.observer/filing/0001581990-22-000020.txt

## Key facts
- Earnings Releases
  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
  source text: 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) **
  evidence_url: https://www.sec.gov/Archives/edgar/data/1581990/000158199022000020/0001581990-22-000020-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.