Plains All American Q3 Adj EBITDA $662M, raises FY23 guidance, plans 19% distribution hike

PLAINS GP HOLDINGS LP

Q3 Net income $203M ($0.20 diluted EPS); Adj EBITDA attributable to PAA $662M vs $623M YoY.
Raises 2023 Adj EBITDA guidance to $2.60-2.65B from $2.45-2.55B.
Plans to recommend 19% annualized distribution increase to $1.27/unit from $1.07, payable Feb 2024.
Permian JV acquires two crude gathering systems for $205M ($135M net to PAA).
Lowers long-term leverage target range by 0.5x to 3.25x-3.75x, expects year-end below 3.5x.

item 2.02 item 7.01 item 9.01

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, 2023 results: net income $203 million, EPS $0.20.

Period: Three Months Ended September 30, 2023
Net income: $203 million
EPS: $0.20
Result: reported results

Exact text from the filing

Three Months Ended September 30, % Nine Months Ended September 30, % GAAP Results 2023 2022 Change 2023 2022 Change Net income attributable to PAA $ 203 $ 384 (47) % $ 918 $ 774 19 % Diluted net income per common unit $ 0.20 $ 0.48 (58) % $ 1.04 $ 0.89 17 %

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PLAINS GP HOLDINGS LP updated its full-year 2023 guidance (raised).

Period: full-year 2023
Guidance: raised
Result: guidance update

Exact text from the filing

Raising guidance for full-year 2023 Adjusted EBITDA attributable to PAA to $2.60 - $2.65 billion from $2.45 - $2.55 billion.

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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 0001581990-23-000019

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