Plains All American Pipeline LPNASDAQ: PAA

Plains All American Pipeline, L.P. reported mixed Q3 '24 results with a revenue miss but an earnings beat, and guided to the top end of their adjusted EBITDA range for eFY24. Strength in Permian assets and enhanced oil recovery techniques are expected to drive capital efficiency and operational resilience, supporting a lower capital outlay. Plains All American's disciplined bolt-on acquisitions and the Fort Saskatchewan fractionation project are poised to enhance fee-based cash flow and overall financial stability.

Plains All American Pipeline has agreed to pay $72.5 million to settle a lawsuit over the 2015 Refugio Beach oil spill in Santa Barbara, a filing showed on Tuesday.

Plains All American Pipeline's Q3 2024 results were mixed, missing revenue expectations but beating non-GAAP earnings, leading to a 3.91% decline in unit price. Despite the revenue miss, gross profit remained stable, with a 3.03% decline from Q2 2024 but a significant increase from Q3 2023. The company is seeing growth from its subsidiaries but weakness in other business segments.

Plains All American Pipeline maintains a stable market share and competitive advantage in crude oil transportation, but faces revenue volatility due to fluctuating oil prices. The company's profitability is low, with average gross and net margins of 7.5% and 1.59%, primarily due to its focus on crude oil transportation. Despite high debt levels, Plains All American Pipeline shows slightly stronger FCF margins than competitors, attributed to lower capex spending.

Plains All American Pipeline, L.P. Common Units (NASDAQ:PAA ) Q3 2024 Earnings Conference Call November 8, 2024 10:00 AM ET Company Participants Blake Fernandez - Vice President, Investor Relations Willie Chiang - Chairman and Chief Executive Officer Al Swanson - Executive Vice President and Chief Financial Officer Jeremy Goebel - Executive Vice President and Chief Commercial Officer Chris Chandler - Executive Vice President and Chief Operating Officer Conference Call Participants Michael Blum - Wells Fargo Spiro Dounis - Citi Jeremy Tonet - JPMorgan Securities Neel Mitra - Bank of America AJ O'Donnell - TPH Manav Gupta - UBS John Mackay - Goldman Sachs Neal Dingmann - Truist Securities Operator Hello, and welcome to PAA and PAGP Third Quarter 2024 Earnings Call.

PAA's third-quarter earnings and revenues beat estimates. The company's 2024 adjusted EBITDA outlook remains unchanged.

HOUSTON, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) today reported third-quarter 2024 results.

Plains All American Pipeline reported positive results, including a $75 million EBITDA increase and favorable spreads on unhedged C3+ products. Growth is expected from Bolt-On acquisitions and crude volume increases, though significant growth in crude production is uncertain. Management plans to refinance $1.7 billion in debt by 2026.

HOUSTON, Oct. 02, 2024 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) today announced their quarterly distributions with respect to the third quarter of 2024 and also announced timing of third quarter 2024 earnings.