Plains All American Q2 net income $293M; raises 2023 EBITDA to high-end; Permian bolt-on

PLAINS GP HOLDINGS LP

Q2 net income attributable to PAA $293M ($0.32/unit), up 44% YoY; adjusted EBITDA $597M.
Expects full-year 2023 adjusted EBITDA at high end of $2.45-2.55B; leverage <3.5x.
Acquired Diamondback's 43% interest in OMOG JV for ~$225M ($145M net to PAA), closed July 28.
Sanctioned Fort Saskatchewan debottlenecking (30 Mb/d capacity); extended contract tenors to ~10 years.
Q2 distribution $0.2675/unit, up 23% YoY; free cash flow $650M.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.8

PLAINS GP HOLDINGS LP reported second-quarter 2023 results: net income Net income attributable to PAA of $293 million, EPS Diluted net income per common unit $ 0.32. Guidance reaffirmed.

Period: second-quarter 2023
Net income: Net income attributable to PAA of $293 million
EPS: Diluted net income per common unit $ 0.32
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Plains All American Reports Second-Quarter 2023 Results and Provides Updated 2023 Guidance

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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 0001581990-23-000014

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