---
schema_version: "secwatch.filing_event.v1"
accession: "0001581990-24-000011"
form_type: "8-K"
ticker: "PAGP"
cik: "0001581990"
company_name: "PLAINS GP HOLDINGS LP"
filed_at: "2024-05-03T23:59:59+00:00"
generated_at: "2026-06-02T23:09:21.224066+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001581990-24-000011
- form_type: 8-K
- ticker: PAGP
- cik: 0001581990
- company_name: PLAINS GP HOLDINGS LP
- filed_at: 2024-05-03T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1581990/000158199024000011/0001581990-24-000011-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1581990/000158199024000011/pagp-20240503.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001581990-24-000011
- JSON: https://secwatch.observer/filing/0001581990-24-000011.json
- Plain text: https://secwatch.observer/filing/0001581990-24-000011.txt

## Key facts
- Earnings Releases
  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
  source text: Reported Net income attributable to PAA of $266 million and Net cash provided by operating activities of $419 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1581990/000158199024000011/0001581990-24-000011-index.htm

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