secwatch.observer — SEC 8-K summary
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Issuer:     PLAINS GP HOLDINGS LP (PAGP)
CIK:        0001581990
Form:       8-K
Filed at:   2025-11-05T23:59:59+00:00
Accession:  0001581990-25-000025
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Plains Q3 net income $441M; acquires 100% of EPIC crude pipeline for ~$1.33B
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- Net income $441M ($0.55 diluted EPS); adjusted EBITDA attributable to PAA $669M.
- Completed acquisition of remaining 45% equity in EPIC for ~$1.33B (incl. ~$500M debt) on Nov 1, now owns 100%.
- Full-year 2025 Adjusted EBITDA guidance $2.84-2.89B (includes ~$40M from EPIC); leverage at 3.3x low end.
- Distribution declared $0.38 per unit for Q3, up 20% YoY; implied DCF per unit $0.61.
- Pending sale of Canadian NGL business to Keyera expected to close in Q1 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1581990/000158199025000025/0001581990-25-000025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1581990/000158199025000025/pagp-20251105.htm
  HTML page:      https://secwatch.observer/filing/0001581990-25-000025

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