Core Insights - Plains All American Pipeline, L.P. (PAA) reported second-quarter 2025 adjusted earnings of 36 cents per unit, exceeding the Zacks Consensus Estimate of 30 cents by 20% and up from 31 cents in the same quarter last year [1][8] PAA's Total Revenues - Net sales for the quarter were $10.64 billion, missing the Zacks Consensus Estimate of $12.05 billion by 11.7% and down 16.6% from $12.76 billion in the year-ago quarter [2] Highlights of PAA's Earnings Release - Total costs and expenses were $10.4 billion, a decrease of 16.3% year over year, attributed to lower purchases and related costs [3] - Net interest expenses rose to $133 million, an increase of 19.8% from the prior-year quarter [3] - The company agreed to divest substantially all of its NGL business for approximately $3.75 billion, with expected closing in Q1 2026, pending regulatory approval [3] PAA's Segmental Performance - The Crude Oil segment's adjusted EBITDA was $580 million, up 0.7% from the year-ago quarter, driven by higher tariff volumes and contributions from recent acquisitions, though offset by fewer market opportunities and lower commodity prices [4] Financial Update - As of June 30, 2025, cash and cash equivalents were $459 million, up from $348 million as of December 31, 2024 [6] - Long-term debt increased to $8.21 billion from $7.21 billion as of December 31, 2024, with long-term debt-to-total book capitalization rising to 46% from 42% [6] PAA's 2025 Guidance - For 2025, PAA expects adjusted EBITDA to be in the range of $2.80-$2.95 billion and adjusted free cash flow anticipated at $870 million, excluding changes in assets and liabilities [7][9]

Financial Performance - 2Q25 Adjusted EBITDA attributable to PAA was $672 million[5] - Crude Oil Adjusted EBITDA was $580 million in 2Q25[5] - NGL Adjusted EBITDA was $87 million in 2Q25[5] - The company reaffirmed its full-year Adjusted EBITDA guidance of $2.80 - $2.95 billion[5] - The leverage ratio was 3.3x in 2Q25[5] Strategic Initiatives - The company is divesting its NGL business for approximately $3.75 billion[5] - Net proceeds from the NGL divestiture are expected to be around $3.0 billion after taxes, transaction expenses, and potential special distribution[5,8] - The company acquired an additional 20% interest in the BridgeTex Pipeline, bringing its total ownership to 40%[5] Capital Allocation - The company is targeting approximately $0.15/unit annual distribution growth from 2026 onwards until approximately 160% common unit coverage is reached[26] - The company increased its annual distribution by $0.25/unit to $1.52/unit in 2025[26] - The company has invested approximately $1.4 billion in bolt-on acquisitions since the second half of 2022[11,30]

Exhibit 99.1 Plains All American Reports Second-Quarter 2025 Results Houston, TX – August 8, 2025 – Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) today reported solid second-quarter 2025 results and provided the following highlights: Second-Quarter Results Highlights and Recent Announcements "We continue to advance our strategic initiatives and delivered solid second-quarter performance in a volatile macro environment," said Willie Chiang, Chairman, CEO and President ...

Core Insights - Plains All American Pipeline, L.P. and Plains GP Holdings reported solid second-quarter 2025 results despite a volatile macro environment, with a focus on strategic initiatives and financial flexibility [3][7]. Financial Performance - Net income attributable to Plains All American Pipeline for Q2 2025 was $210 million, a decrease of 16% from $250 million in Q2 2024 [6][29]. - Adjusted EBITDA attributable to Plains All American Pipeline was $672 million for Q2 2025, showing a slight decrease from $674 million in Q2 2024 [8][29]. - The company reported net cash provided by operating activities of $694 million for Q2 2025, up 6% from $653 million in Q2 2024 [8][29]. Strategic Initiatives - The company is advancing its strategic initiatives, including the divestiture of its Canadian NGL business, expected to close in Q1 2026 for approximately $5.15 billion CAD ($3.75 billion USD) [4][7]. - Proceeds from the NGL sale, estimated at around $3.0 billion net USD, will be prioritized for bolt-on M&A, preferred unit repurchases, and opportunistic common unit repurchases [7][8]. - Plains All American Pipeline acquired an additional 20% interest in the BridgeTex Pipeline joint venture, increasing its total interest to 40% [7][8]. Operational Metrics - The company exited Q2 2025 with a leverage ratio of 3.3x, towards the low end of its target range of 3.25x - 3.75x [7]. - Adjusted Free Cash Flow for Q2 2025 was $348 million, a decrease of 15% from $411 million in Q2 2024 [8][29]. - The company reported a distribution per common unit of $0.38 for Q2 2025, up 20% from $0.3175 in Q2 2024 [8][29]. Market Conditions - The second-quarter 2025 Adjusted EBITDA from crude oil was stable compared to the previous year, supported by higher tariff volumes and contributions from recent acquisitions, but offset by lower commodity prices [16]. - Adjusted EBITDA from NGL decreased by 7% year-over-year, primarily due to lower iso-to-normal butane spread benefits [17].

Group 1 - Plains All American Pipeline is set to release its Q2 earnings results on August 8, with expected earnings of 33 cents per share, an increase from 31 cents per share in the same period last year [1] - The company is projected to report quarterly revenue of $12.86 billion, slightly down from $12.93 billion a year earlier [1] - On June 17, Plains All American and Plains GP Holdings finalized agreements to sell their NGL business to Keyera for $3.75 billion [2] Group 2 - Mizuho analyst Gabriel Moreen maintained an Outperform rating and raised the price target from $20 to $22 [7] - JP Morgan analyst Jeremy Tonet maintained a Neutral rating and increased the price target from $19 to $20 [7] - Citigroup analyst Spiro Dounis maintained a Neutral rating and cut the price target from $21 to $18 [7] - Barclays analyst Theresa Chen maintained an Underweight rating and lowered the price target from $19 to $18 [7] - Morgan Stanley analyst Robert Kad maintained an Equal-Weight rating and increased the price target from $19 to $23 [7]

Core Viewpoint - Plains All American Pipeline, L.P. (PAA) is anticipated to report a decline in both earnings and revenues for the second quarter of 2025, with earnings per unit expected at 30 cents, reflecting a year-over-year decrease of 3.23%, and revenues projected at $12.05 billion, indicating a decline of 6.84% [1][2]. Group 1: Earnings Expectations - The Zacks Consensus Estimate for PAA's second-quarter earnings per unit is 30 cents, which represents a year-over-year decline of 3.23% [2]. - The consensus estimate for PAA's second-quarter revenues is $12.05 billion, implying a year-over-year decline of 6.84% [2]. Group 2: Factors Influencing Earnings - PAA operates a vast network of pipelines and storage facilities in major oil-producing regions, which is expected to have positively influenced second-quarter earnings due to steady revenue flow from creditworthy customers [3][8]. - The midstream assets managed by PAA are essential for the U.S. energy sector, facilitating efficient crude oil transportation, which likely contributed to improved performance in the second quarter [4]. - A significant portion of PAA's cash flow is derived from fee-based contracts, providing consistent income streams that are less affected by short-term oil price fluctuations, which is expected to positively impact second-quarter results [5][8]. Group 3: Earnings Prediction Model - The Zacks model does not predict an earnings beat for PAA, as it has an Earnings ESP of -6.04% and a Zacks Rank of 4 (Sell) [6].

Core Insights - Analysts expect Plains All American Pipeline (PAA) to report quarterly earnings of $0.30 per share, reflecting a year-over-year decline of 3.2% [1] - Revenue projections stand at $12.05 billion, indicating a decrease of 6.8% compared to the same quarter last year [1][2] Earnings Estimates Revisions - The consensus EPS estimate has been revised downward by 8.5% over the past 30 days, indicating a collective reassessment by analysts [2] - Revisions to earnings estimates are crucial for predicting investor actions and have shown a strong correlation with short-term stock price performance [3] Key Metrics Projections - Estimated 'Revenues- NGL' is projected at $139.11 million, down 52.5% year-over-year [5] - 'Crude oil pipeline tariff volumes- Total' are expected to reach 10,382.16 thousand barrels per day, an increase from 8,938.00 thousand barrels per day in the previous year [5] - 'Segment Adjusted EBITDA- NGL' is anticipated to be $68.82 million, down from $94.00 million in the same quarter last year [6] - 'Segment Adjusted EBITDA- Crude oil' is expected to be $598.78 million, compared to $576.00 million reported in the same quarter last year [6] Market Performance - Over the past month, Plains All American shares have declined by 2.3%, while the Zacks S&P 500 composite has increased by 1% [6] - PAA holds a Zacks Rank of 4 (Sell), suggesting it may underperform the overall market in the near term [6]

Group 1 - Samuel Smith has extensive experience in dividend stock research and investment, having served as lead analyst and Vice President at several firms [1] - He is a Professional Engineer and Project Management Professional, holding degrees in Civil Engineering & Mathematics and a Masters in Engineering with a focus on applied mathematics and machine learning [1] - Samuel leads the High Yield Investor investing group, collaborating with Jussi Askola and Paul R. Drake to balance safety, growth, yield, and value in investment strategies [2] Group 2 - High Yield Investor offers various investment portfolios, including core, retirement, and international options, along with regular trade alerts and educational content [2] - The service features an active chat room for investors to engage and share insights [2]

Core Viewpoint - The S&P 500 dividend yield is nearing a record low of approximately 1.2%, prompting investors to seek higher-yielding dividend stocks for better income opportunities [1][2]. Group 1: Enbridge - Enbridge offers a substantial dividend yield of 6%, supported by three decades of dividend increases, making it an attractive option compared to the S&P 500's yield [4][7]. - The company operates a reliable oil and natural gas pipeline network, generating consistent cash flows through customer fees, independent of commodity price fluctuations [5]. - Enbridge is transitioning towards cleaner energy sources, including natural gas and renewables, while maintaining a strong balance sheet and a distribution payout ratio of 60% to 70% of distributable cash flows [6][7]. Group 2: Plains All American Pipeline - Plains All American Pipeline boasts a high dividend yield exceeding 8%, nearly seven times that of the S&P 500 [8]. - The company generates stable cash flow, with 80% of its income derived from predictable fee-for-service agreements, expected to rise to 85% post-sale of Canadian NGL assets [9][10]. - Plains All American plans to grow its dividend by approximately 10% annually until reaching a targeted payout ratio of 160%, with an expected ratio of around 175% this year [11][12]. Group 3: Brookfield Renewable - Brookfield Renewable offers a dividend yield of 4.6% and has consistently increased its dividend since its formation in 2011, with funds from operations covering its payouts [13][14]. - The company is a major player in the renewable energy sector, with over 35 gigawatts of operational capacity and a diverse asset pipeline [14][15]. - Brookfield Renewable plans to invest $8 billion to $9 billion over the next five years, targeting annual returns of 12% to 15%, including a 5% to 9% annual increase in dividends [16].

Group 1 - iREIT+HOYA Capital focuses on income-producing asset classes that provide sustainable portfolio income, diversification, and inflation hedging [1] - The tech sector is characterized by volatility, with companies competing to attract top AI talent through significant pay packages [2] Group 2 - The article emphasizes the importance of defensive stocks for medium- to long-term investment strategies [2]