secwatch.observer — SEC 8-K summary
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Issuer:     PLAINS GP HOLDINGS LP (PAGP)
CIK:        0001581990
Form:       8-K
Filed at:   2026-05-08T23:59:59+00:00
Accession:  0001581990-26-000015
Event type: earnings
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Plains All American Q1 net income $152M, down 66% YoY; raises 2026 EBITDA midpoint by $130M to $2.88B
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- Net income attributable to PAA of $152M, down 66% from $443M in Q1 2025; diluted EPS $0.14 vs $0.49.
- Adjusted EBITDA attributable to PAA $730M, down 3% YoY; Q1 cash from operations $418M.
- Raising 2026 Adjusted EBITDA guidance midpoint by $130M to $2.88B; growth capex $350M, maintenance $185M.
- Pro forma leverage 4.1x; expects to return to 3.25-3.75x after closing NGL divestiture (expected May 2026).
- NGL sale to Keyera Corp announced June 2025 expected to close May 2026; results include discontinued ops.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1581990/000158199026000015/0001581990-26-000015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1581990/000158199026000015/pagp-20260508.htm
  HTML page:      https://secwatch.observer/filing/0001581990-26-000015

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