earnings
confidence high
sentiment positive
materiality 0.65
Plains GP Q1 net income $443M, up 67% YoY; distribution raised 20% to $0.38/unit
PLAINS GP HOLDINGS LP
- Net income attributable to PAA $443M, up 67% YoY; diluted EPS $0.49 vs $0.29.
- Adjusted EBITDA attributable to PAA $754M, up 5% YoY; total Adjusted EBITDA $881M.
- Quarterly distribution increased 20% to $0.38/unit ($1.52 annualized), yield ~9%.
- Acquired remaining 50% of Cheyenne Pipeline (Feb 28) and Black Knight Permian for ~$55M (May 1).
- Leverage ratio 3.3x; placed Fort Saskatchewan debottleneck (30 Mb/d) into service.