{"schema_version":"secwatch.filing_event.v1","accession":"0001581990-26-000009","form_type":"8-K","ticker":"PAGP","cik":"0001581990","company_name":"PLAINS GP HOLDINGS LP","filed_at":"2026-02-06T23:59:59+00:00","discovered_at":"2026-05-14T18:02:35.529360+00:00","generated_at":"2026-05-16T04:05:51.712652+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Plains All American Q4 2025 net income $342M; adj. EBITDA $738M; distribution increased 10%","bullets":["Q4 2025 net income attributable to PAA $342M vs $36M YoY; full-year $1.435B vs $772M.","Adjusted EBITDA attributable to PAA Q4 $738M, full-year $2.833B.","2026 adj. EBITDA guidance midpoint $2.75B (+/- $75M); expects one quarter of NGL contribution.","Annualized distribution increased $0.15 to $1.67/unit (10% increase); coverage threshold lowered to 150%.","Cost savings of $100M by 2027 and $50M Cactus III synergies; NGL divestiture to Keyera closing Q1 2026."],"urls":{"canonical":"https://secwatch.observer/filing/0001581990-26-000009","json":"https://secwatch.observer/filing/0001581990-26-000009.json","markdown":"https://secwatch.observer/filing/0001581990-26-000009.md","text":"https://secwatch.observer/filing/0001581990-26-000009.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1581990/000158199026000009/0001581990-26-000009-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1581990/000158199026000009/pagp-20260206.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T04:05:51.712652+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}