secwatch.observer — SEC 8-K summary
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Issuer:     PLAINS GP HOLDINGS LP (PAGP)
CIK:        0001581990
Form:       8-K
Filed at:   2024-05-03T23:59:59+00:00
Accession:  0001581990-24-000011
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1581990/000158199024000011/0001581990-24-000011-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1581990/000158199024000011/pagp-20240503.htm
  HTML page:      https://secwatch.observer/filing/0001581990-24-000011

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