---
schema_version: "secwatch.filing_event.v1"
accession: "0001581990-24-000003"
form_type: "8-K"
ticker: "PAGP"
cik: "0001581990"
company_name: "PLAINS GP HOLDINGS LP"
filed_at: "2024-02-09T23:59:59+00:00"
generated_at: "2026-06-06T04:50:19.763959+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Plains GP reports Q4 net income $312M, Adj. EBITDA $737M; guides 2024 Adj. EBITDA $2.625-2.725B

## Summary
- Q4 2023 net income attributable to PAA $312M (+19% YoY); diluted EPS $0.35 GAAP, $0.42 adjusted.
- Full-year Adj. EBITDA attributable to PAA $2.711B above guidance; 2024 guidance $2.625-2.725B.
- Board approved 19% distribution increase to $1.27/unit annualized, payable from Feb 2024.
- 2024 expected Adj. FCF (excl. changes in A&L) $1.65B; after distributions ~$500M.
- Year-end leverage 3.1x; 2024 capital plan: investment $375M, maintenance $230M net to PAA.

## SEC filing metadata
- accession: 0001581990-24-000003
- form_type: 8-K
- ticker: PAGP
- cik: 0001581990
- company_name: PLAINS GP HOLDINGS LP
- filed_at: 2024-02-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1581990/000158199024000003/0001581990-24-000003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1581990/000158199024000003/pagp-20240209.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001581990-24-000003
- JSON: https://secwatch.observer/filing/0001581990-24-000003.json
- Plain text: https://secwatch.observer/filing/0001581990-24-000003.txt

## Key facts
- Earnings Releases
  PLAINS GP HOLDINGS LP updated its full-year 2024 guidance (initiated).
  - Period: full-year 2024
  - Guidance: initiated
  - Result: guidance update
  source text: Expect full-year 2024 Adjusted EBITDA attributable to PAA of $2.625 - $2.725 billion
  evidence_url: https://www.sec.gov/Archives/edgar/data/1581990/000158199024000003/0001581990-24-000003-index.htm
- Earnings Releases
  PLAINS GP HOLDINGS LP reported twelve months ended December 31, 2023 results: net income $1,230 million, EPS $1.40. Guidance reaffirmed.
  - Period: twelve months ended December 31, 2023
  - Net income: $1,230 million
  - EPS: $1.40
  - Guidance: reaffirmed
  - Result: reported results
  source text: full-year 2023 Net income attributable to PAA of $312 million and $1.23 billion, respectively
  evidence_url: https://www.sec.gov/Archives/edgar/data/1581990/000158199024000003/0001581990-24-000003-index.htm

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