secwatch.observer — SEC 8-K summary
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Issuer:     PLAINS GP HOLDINGS LP (PAGP)
CIK:        0001581990
Form:       8-K
Filed at:   2023-11-03T23:59:59+00:00
Accession:  0001581990-23-000019
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1581990/000158199023000019/0001581990-23-000019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1581990/000158199023000019/pagp-20231103.htm
  HTML page:      https://secwatch.observer/filing/0001581990-23-000019

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer