earnings
confidence high
sentiment positive
materiality 0.75
Plains All American Q3 net income $220M, Adj EBITDA $659M; guides toward FY high-end
PLAINS GP HOLDINGS LP
- Q3 net income $220M, up 8% YoY; diluted EPS $0.22 GAAP, adjusted $0.37.
- Adj EBITDA attributable to PAA $659M, flat YoY; distribution raised 19% to $0.3175/unit.
- Leverage ratio 3.0x below 3.25x-3.75x target; Moody's upgraded to Baa2, now mid-BBB.
- FY 2024 Adj EBITDA expected near high-end of $2.725-$2.775B; Adj FCF ~$1.45B.
- Resolved remaining Line 901 claims with $120M GAAP charge; completed small Permian gathering bolt-on.