PLQC Company Report

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Research analysts covering PLQC.

Recent press releases and 8-K filings for PLQC.

Plains All American Pipeline Reports Q4 2025 Results, Provides 2026 Guidance, and Increases Distribution

PLQC

Earnings

Guidance Update

Dividends

Plains All American Pipeline, L.P. (PAA) reported $738 million in Adjusted EBITDA attributable to PAA for Q4 2025, contributing to a full-year 2025 Adjusted EBITDA of $2,833 million.
For 2026, PAA provided guidance of $2,750 million (+/- $75 million) for Adjusted EBITDA attributable to PAA and ~$1,800 million for Adjusted Free Cash Flow.
The company announced a $0.15/unit annual distribution increase for 2026, raising it to $1.67/unit, and lowered its coverage ratio target from 160% to 150%.
Key strategic initiatives include the anticipated close of the NGL divestiture by the end of Q1 2026, expected to yield ~$3.2 billion in net proceeds, and efficiency efforts targeting $100 million in annual savings through 2027.
PAA's leverage ratio stood at 3.9x as of December 31, 2025, with a target range of 3.25x-3.75x which is expected to be achieved after the NGL sale.

23 hours ago

PLQC Reports Q3 2025 Financial Results

PLQC

Earnings

M&A

Plains reported Adjusted EBITDA Attributable to PAA of $806 million for Q3 2025.
Adjusted Net Income Per Common Unit for Q3 2025 was $0.39.
Implied Distributable Cash Flow (DCF) for Q3 2025 was $431 million, with $0.61 per common unit.
Adjusted Free Cash Flow after Distributions for Q3 2025 was $(18) million.
The potential sale of the Canadian NGL Business is anticipated to close in the first quarter of 2026.