Plains All American Q1 Adj. EBITDA $718M, raises distribution 19%, bolt-on acquisitions $110M

PLAINS GP HOLDINGS LP

Q1 net income $266M, Adj. EBITDA attributable to PAA $718M; on track to full-year guidance $2.625-2.725B.
Annualized common distribution raised $0.20 to $1.27 per unit (~19% increase).
Extended Permian long-haul contracts; weighted average duration ~5 years through 2028, including Cactus I/II and Basin/Sunrise.
Acquired additional 10% stake in Saddlehorn Pipeline and a Mid-Con terminal for aggregate ~$110M cash.
Expects underlying growth to offset lower contracted rates, leading to broadly flat Adj. EBITDA in 2026 vs 2024 crude guidance.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PLAINS GP HOLDINGS LP reported first-quarter 2024 results: net income $266 million, EPS $0.29. Guidance reaffirmed.

Period: first-quarter 2024
Net income: $266 million
EPS: $0.29
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Reported Net income attributable to PAA of $266 million and Net cash provided by operating activities of $419 million

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710 earnings releases filed in the last 30 days. Browse all earnings releases →

PLAINS GP HOLDINGS LP filing history →

Source: SEC EDGAR

accession 0001581990-24-000011

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