Plains All American Pipeline(US:PAA) ZACKS·2025-11-05 17:36Core Insights - Plains All American Pipeline, L.P. (PAA) reported third-quarter 2025 adjusted earnings of 39 cents per unit, exceeding the Zacks Consensus Estimate of 34 cents by 14.7% and up from 37 cents in the same quarter last year [1][8] PAA's Total Revenues - Net sales for the quarter were $11.58 billion, missing the Zacks Consensus Estimate of $12.96 billion by 10.6% and decreasing 7% from $12.46 billion in the year-ago quarter [2][8] Highlights of PAA's Q3 Earnings Release - Total costs and expenses were $11.09 billion, down 9.5% year over year due to lower purchases, field operating costs, and general and administrative expenses [3] - Net interest expenses increased to $135 million, up 19.5% from the prior-year quarter [3] PAA's Financial Update - As of September 30, 2025, cash and cash equivalents totaled $1.18 billion, a significant increase from $0.35 billion as of December 31, 2024 [4] - Long-term debt rose to $8.44 billion from $7.21 billion as of December 31, 2024, with long-term debt-to-total book capitalization increasing to 46% from 42% [4] PAA's 2025 Guidance - For 2025, PAA narrowed its adjusted EBITDA guidance to a range of $2.84-$2.89 billion from the previous range of $2.80-$2.95 billion, with adjusted free cash flow anticipated at $900 million [5][8] - The company plans disciplined capital investments, expecting full-year 2025 growth capital and maintenance capital of $490 million and $215 million, respectively [5]