secwatch.observer — SEC 8-K summary
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Issuer:     PLAINS GP HOLDINGS LP (PAGP)
CIK:        0001581990
Form:       8-K
Filed at:   2026-08-07T13:15:49+00:00
Accession:  0001581990-26-000023
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Plains All American Q2 2026: Adjusted EBITDA $738M, up 10% YoY; NGL sale closed
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- Net income attributable to PAA $1.830B incl. ~$1.6B gain from Canadian NGL sale to Keyera (closed May 12, 2026).
- Adjusted EBITDA attributable to PAA $738M, +10% YoY; pro forma leverage 3.3x after ~$2.9B debt reduction.
- Quarterly distribution raised 10% to $0.4175/unit ($1.67 annualized); implied DCF $0.70/unit.
- 2026 organic growth capex raised to $400-450M (from $350M) for Cactus III 75 Mb/d expansion; maintenance capex cut to $175M.
- Adjusted free cash flow $4.189B, boosted by NGL divestiture proceeds; full-year EBITDA guidance on track.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1581990/000158199026000023/0001581990-26-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1581990/000158199026000023/pagp-20260807.htm
  HTML page:      https://secwatch.observer/filing/0001581990-26-000023

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer