---
schema_version: "secwatch.filing_event.v1"
accession: "0001581990-23-000019"
form_type: "8-K"
ticker: "PAGP"
cik: "0001581990"
company_name: "PLAINS GP HOLDINGS LP"
filed_at: "2023-11-03T23:59:59+00:00"
generated_at: "2026-06-08T22:25:27.892661+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 Adj EBITDA $662M, raises FY23 guidance, plans 19% distribution hike

## Summary
- 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.

## SEC filing metadata
- accession: 0001581990-23-000019
- form_type: 8-K
- ticker: PAGP
- cik: 0001581990
- company_name: PLAINS GP HOLDINGS LP
- filed_at: 2023-11-03T23:59:59+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/1581990/000158199023000019/0001581990-23-000019-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1581990/000158199023000019/pagp-20231103.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001581990-23-000019
- JSON: https://secwatch.observer/filing/0001581990-23-000019.json
- Plain text: https://secwatch.observer/filing/0001581990-23-000019.txt

## Key facts
- Earnings Releases
  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
  source text: 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 %
  evidence_url: https://www.sec.gov/Archives/edgar/data/1581990/000158199023000019/0001581990-23-000019-index.htm
- Earnings Releases
  PLAINS GP HOLDINGS LP updated its full-year 2023 guidance (raised).
  - Period: full-year 2023
  - Guidance: raised
  - Result: guidance update
  source text: Raising guidance for full-year 2023 Adjusted EBITDA attributable to PAA to $2.60 - $2.65 billion from $2.45 - $2.55 billion.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1581990/000158199023000019/0001581990-23-000019-index.htm

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