HOUSTON, Feb. 09, 2024 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (NASDAQ:PAA) and Plains GP Holdings (NASDAQ:PAGP) today reported fourth-quarter and full-year 2023 results, announced 2024 guidance and provided the following highlights: 2023 Highlights Fourth-quarter and full-year 2023 Net income attributable to PAA of $312 million and $1.23 billion, respectively, and 2023 Net cash provided by operating activities of $1.01 billion and $2.73 billion, respectivelyDelivered strong fourth-quarter a ...

Investors are always looking for stocks that are poised to beat at earnings season and Plains All American Pipeline, L.P. (PAA) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report. That is because Plains All American is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information po ...

Plains All American Pipeline L.P (PAA) is scheduled to release fourth-quarter 2023 earnings on Feb 9 before market open. The firm delivered a positive earnings surprise of 45.83% in the last quarter.Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.Factors at PlayPAA’s fourth-quarter earnings are expected to have benefited from contributions coming from the acquired assets of Rattler Midstream's Southern Delaware Basin crude gathering system and LM Energy’s Touchdow ...

In the latest market close, Plains All American Pipeline (PAA) reached $15.30, with a +0.2% movement compared to the previous day. The stock exceeded the S&P 500, which registered a loss of 0.32% for the day. At the same time, the Dow lost 0.71%, and the tech-heavy Nasdaq lost 0.2%.Heading into today, shares of the oil and gas transportation and storage company had lost 0.78% over the past month, outpacing the Oils-Energy sector's loss of 2.12% and lagging the S&P 500's gain of 4.59% in that time.Analysts a ...

The latest trading session saw Plains All American Pipeline (PAA) ending at $16.20, denoting a -0.61% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.76%. Meanwhile, the Dow gained 0.59%, and the Nasdaq, a tech-heavy index, added 1.12%.Heading into today, shares of the oil and gas transportation and storage company had gained 7.59% over the past month, outpacing the Oils-Energy sector's loss of 2.82% and the S&P 500's gain of 2.5% in that time.The upcoming earnings relea ...

HOUSTON, Jan. 08, 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 fourth quarter of 2023 and also announced timing of fourth quarter 2023 earnings. Fourth Quarter Distribution Declaration  PAA and PAGP announced the following quarterly cash distributions, each of which will be payable on February 14, 2024 to holders of the respective securities at the close of business on January 3 ...

Plains All American Pipeline (PAA) ended the recent trading session at $15.41, demonstrating a +0.72% swing from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.8%. On the other hand, the Dow registered a loss of 0.76%, and the technology-centric Nasdaq decreased by 1.18%.Shares of the oil and gas transportation and storage company witnessed a loss of 1.35% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 0.83% and the S&P 500's ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________________________ FORM 10-Q ________________________________________________________________________________________________________________________________ ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHA ...

Financial Performance - Net income attributable to PAA for the first six months of 2023 was $715 million, an increase of 83% compared to $390 million in the same period of 2022[114]. - Net income for Q2 2023 was $349 million, a 39% increase from $251 million in Q2 2022, and for the first half of 2023, it was $824 million, up 73% from $476 million in the same period last year[136]. - Adjusted EBITDA for Q2 2023 was $700 million, a slight decrease of 1% from $704 million in Q2 2022, while for the first half of 2023, it increased by 9% to $1,513 million from $1,394 million[137]. - Adjusted EBITDA attributable to PAA for Q2 2023 was $597 million, a decrease of 3% from $615 million in Q2 2022, while for the first half of 2023, it increased by 7% to $1,312 million from $1,228 million[136]. - Other income increased significantly to $85 million for the six months ended June 30, 2023, compared to a loss of $155 million in the same period of 2022[128]. - Free Cash Flow for the three months ended June 30, 2023 was $650 million, compared to $688 million in the same period of 2022, while Free Cash Flow after Distributions was $404 million, down from $473 million[166]. Revenue and Sales - Product sales revenues decreased by 21% to $23.145 billion for the six months ended June 30, 2023, down from $29.388 billion in 2022, primarily due to lower commodity prices[117]. - Services revenues increased by 20% to $798 million for the six months ended June 30, 2023, compared to $665 million in 2022, driven by higher volumes and tariff escalations[121]. - Crude Oil segment revenues decreased by 29% to $11,295 million for the three months ended June 30, 2023, compared to $15,940 million in 2022[144]. - NGL segment revenues decreased by 33% to $381 million for the three months ended June 30, 2023, compared to $570 million in 2022[153]. Expenses and Costs - General and administrative expenses increased by 7% to $171 million for the six months ended June 30, 2023, primarily due to higher information systems and employee-related costs[123]. - Interest expense decreased by 6% to $193 million for the six months ended June 30, 2023, due to a lower weighted average debt balance[127]. - Field operating costs for the NGL segment decreased by 28% to $177 million for the six months ended June 30, 2023, compared to $138 million in 2022[153]. - Field operating costs increased due to higher utility-related costs and increased ownership in Empress straddle plants, partially offset by operating cost recoveries[160]. Capital Expenditures and Investments - The company’s maintenance capital expenditures for Q2 2023 were $62 million, a 44% increase from $43 million in Q2 2022[137]. - Maintenance capital expenditures for the Crude Oil segment increased by 44% to $36 million for the three months ended June 30, 2023, compared to $25 million in 2022[144]. - Total investment capital for the year ending December 31, 2023 is projected to be approximately $420 million, with about half allocated to Permian JV assets, while maintenance capital is projected at $205 million[171]. - Proceeds from asset divestitures in the first six months of 2023 amounted to $284 million, significantly higher than $57 million in the same period of 2022, primarily from the sale of a 21% interest in the Keyera Fort Saskatchewan facility[172]. Liquidity and Financial Position - As of June 30, 2023, the company had approximately $3.5 billion in liquidity available, including $915 million in cash and cash equivalents[163]. - The company redeemed $400 million of 2.85% senior notes on January 31, 2023, using cash on hand and borrowings[178]. - As of June 30, 2023, the company had outstanding letters of credit of approximately $127 million[189]. - As of June 30, 2023, the company had approximately $1.1 billion of unsold securities available under its Traditional Shelf registration statement[180]. Market and Risk Management - The company remains subject to business and operational risks that could adversely affect cash flow, including energy price volatility and macroeconomic conditions[164]. - The company is exposed to various market risks, including commodity price risk and interest rate risk, and uses derivative instruments to manage these risks[197]. - The risk management function has direct responsibility for risk policies and approves all new risk management strategies[197]. Derivatives and Fair Value - The fair value of the company's crude oil derivatives as of June 30, 2023, was $25 million, with a potential effect of a 10% price increase or decrease being $14 million and $15 million, respectively[200]. - The fair value of NGL and other derivatives was $173 million, with a potential effect of a 10% price increase or decrease being $18 million each[200]. - The total fair value of all derivatives was $163 million[200]. - The fair value of interest rate derivatives was a net asset of $42 million as of June 30, 2023[202].

Plains All American Pipeline, L.P. (NASDAQ:PAA) Q2 2023 Earnings Conference Call August 4, 2023 10:00 AM ET Company Participants Blake Fernandez - VP of IR Willie Chiang - Chairman and CEO Al Swanson - EVP and CFO Jeremy Goebel - EVP and Chief Commercial Officer Chris Chandler - EVP and COO Conference Call Participants Spiro Dounis - Citi Brian Reynolds - UBS Gabriel Moreen - Mizuho Michael Blum - Wells Fargo Keith Stanley - Wolfe Research Neal Dingmann - Truist Securities Neel Mitra - Bank of America Sunil ...