Plains All American Pipeline(PAA) Newsfilter·2025-02-07 12:032024 Results - Plains All American Pipeline reported a fourth-quarter net income attributable to PAA of $36 million, a decrease of 88% from $312 million in the same quarter of 2023. For the full year, net income was $772 million, down 37% from $1.23 billion in 2023 [5][6][24]. - The company generated net cash provided by operating activities of $726 million in Q4 2024 and $2.49 billion for the full year, reflecting a 28% decrease in Q4 and a 9% decrease for the year compared to 2023 [6][7][24]. - Adjusted EBITDA attributable to PAA for Q4 was $729 million, slightly above guidance, and $2.78 billion for the full year, representing a 3% increase from 2023 [6][7][24]. Efficient Growth Initiatives - The company successfully closed three bolt-on acquisitions for approximately $670 million, including Ironwood Midstream Energy, which is expected to enhance operational capabilities [6][8]. - Plains continues to pursue synergistic and high-return bolt-on opportunities across its asset footprint, indicating a focus on strategic growth [6][8]. 2025 Outlook - For 2025, Plains expects Adjusted EBITDA attributable to PAA to be in the range of $2.80 billion to $2.95 billion [6][8]. - The company announced a distribution increase of $0.25 per unit, representing a 20% increase in the annualized distribution compared to 2024 levels, bringing the new annual distribution to $1.52 per unit [6][8]. - Plains anticipates generating approximately $1.15 billion of Adjusted Free Cash Flow in 2025, with a leverage ratio expected to be at or below the low end of the target range of 3.25x to 3.75x [6][8].