Plains All American Pipeline (PAA) Q1 2025 Earnings Call May 09, 2025 10:00 AM ET Company Participants Blake Fernandez - Vice President - Investor RelationsWillie Chiang - Chairman, Director & CEOAl Swanson - EVP and CFOHarry Pefanis - President & Director of Plains All American GP LLCGabriel Moreen - Managing DirectorManav Gupta - Executive DirectorChris Chandler - EVP and COOJeremy Goebel - EVP and CCONone - ExecutiveSunil Sibal - Managing DirectorAJ O’Donnell - Director - Equity ResearchJohn Mackay - VP ...

Financial Data and Key Metrics Changes - The company reported an adjusted EBITDA attributable to Plains of $754 million for Q1 2025, with the crude oil segment adjusted EBITDA at $559 million, impacted by winter weather and refinery downtime [5][10] - The NGL segment reported adjusted EBITDA of $189 million, benefiting from higher frac spreads and NGL sales volumes [11] Business Line Data and Key Metrics Changes - The NGL segment's transition to more fee-based earnings continues, with a 30,000 barrel per day fractionation project placed into service [7] - The crude segment experienced two strategic transactions, including the acquisition of the remaining 50% equity in the Cheyenne Pipeline and the acquisition of Black Knight Midstream for approximately $55 million [8][10] Market Data and Key Metrics Changes - The company expects a $60 to $65 WTI price environment for the remainder of the year, which may lead to EBITDA guidance being in the lower half of the respective ranges [6] - The NGL segment remains largely insulated from lower commodity prices, with approximately 80% of estimated C3 plus spec products sales hedged for 2025 [7] Company Strategy and Development Direction - The company continues to execute on its efficient growth strategy, generating significant free cash flow and maintaining a flexible balance sheet [7][13] - The focus remains on distribution growth as the primary method for returning cash to shareholders, with opportunistic unit repurchases [21] Management's Comments on Operating Environment and Future Outlook - Management noted ongoing uncertainty regarding trade tariffs and OPEC dynamics, which are creating volatility in the market [5][6] - The company remains optimistic about the medium to long-term outlook despite current market conditions, emphasizing the cyclical nature of commodity markets [6][39] Other Important Information - The company has successfully deployed approximately $1.3 billion into bolt-on acquisitions over the last several years, indicating a commitment to pursuing attractive risk-adjusted returns [9] - The management acknowledged the retirement of Harry Pofonis, the President and Co-Founder, recognizing his contributions to the company [9] Q&A Session Summary Question: Thoughts on capital allocation in the current environment - The company remains committed to distribution growth as the primary method for returning cash to shareholders, with opportunistic unit repurchases as a component of capital allocation [21][22] Question: M&A landscape and volatility impact - Volatile markets create questions, but the company believes it is well-positioned to pursue attractive deals while maintaining capital discipline [23][24] Question: Earnings cadence in Canada with new fractionation complex - The expanded capacity at the PFS facility in Edmonton will ramp up over the remainder of the year and into next year, contributing gradually to earnings [27][28] Question: Insights on Permian volumes and producer conversations - The company has seen over 100,000 barrels per day growth from the end of last year, with producers adopting a wait-and-see approach due to market volatility [35][36] Question: Acquisition multiples for recent deals - Both recent acquisitions met the company's return thresholds, with a focus on capital discipline and risk-adjusted returns [41][42] Question: Capital expenditure guidance and 2026 outlook - The investment capital guidance for 2025 remains unchanged at $400 million, with expectations for 2026 to align with long-term capital guidance [45][46] Question: Hedging philosophy and frac spread - The company maintains a consistent hedging strategy, with approximately 80% of estimated C3 plus spec products sales hedged for 2025 [47][48] Question: Demand signals and refining market health - The global refining market remains healthy, with strong crack spreads and refineries running at high capacity [71][73]

1Q25 Earnings Call May 9, 2025 Forward-Looking Statements & Non-GAAP Financial Measures Disclosure Investor Relations Contacts Blake Fernandez Vice President, Investor Relations Blake.Fernandez@plains.com Michael Gladstein Director, Investor Relations Michael.Gladstein@plains.com Investor Relations 866-809-1291 plainsIR@plains.com 2 ▪ This presentation contains forward-looking statements, including, in particular, statements about the performance, plans, strategies and objectives for future operations of Pl ...

Permian Resources Corporation (PR) reported first-quarter 2025 adjusted net income per share of 42 cents, which missed the Zacks Consensus Estimate of 44 cents. This underperformance was due to a 12.6% year-over-year increase in operating expenses and lower oil prices. However, the reported figure was in line with the year-ago period. (See the Zacks Earnings Calendar to stay ahead of market-making news.)Meanwhile, Permian Resources’ oil and gas sales of $1.4 billion rose 10.7% from the year-ago quarter but ...

FORT WORTH, Texas, May 8, 2025 /PRNewswire/ -- PHX MINERALS INC., "PHX" or the "Company" (NYSE: PHX), today reported financial and operating results for the quarter ended March 31, 2025.Summary of Results for the Quarter Ended March 31, 2025 Net income was $4.4 million, or $0.12 per diluted share, compared to net income of $0.1 million, or $0.00 per diluted share, for the quarter ended Dec. 31, 2024, and net loss of ($0.2) million, or ($0.01) per diluted share, for the quarter ended March 31, 2024. Adjusted ...

For the quarter ended March 2025, Permian Resources (PR) reported revenue of $1.38 billion, up 10.7% over the same period last year. EPS came in at $0.42, compared to $0.42 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.39 billion, representing a surprise of -1.22%. The company delivered an EPS surprise of -4.55%, with the consensus EPS estimate being $0.44.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Stree ...

May 6, 2025 Resiliency and Continuous Improvement Support Strong Long-Term Outlook Important Disclosures Forward-Looking and Cautionary Statements Certain statements in this presentation, other than statements of historical facts, that address activities, events or developments that Chord expects, believes or anticipates will or may occur in the future, including any statements regarding the benefits and synergies of the Enerplus combination, future opportunities for Chord, future financial performance and ...

Energy Transfer (ET) Q1 2025 Earnings Call May 06, 2025 04:30 PM ET Company Participants Thomas Long - Director & Co-CEOTheresa Chen - MD - Equity ResearchMackie McCrea - Director & Co-CEOJean Ann Salisbury - Managing DirectorSpiro Dounis - DirectorKeith Stanley - DirectorMichael Blum - Managing DirectorManav Gupta - Executive DirectorDylan Bramhall - Group Chief Financial Officer of LE GP, LLCJohn Mackay - VP - Equity ResearchGabriel Moreen - Managing Director Conference Call Participants Jeremy Tonet - Eq ...

Energy Transfer (ET) Q1 2025 Earnings Call May 06, 2025 04:30 PM ET Speaker0 Please note, today's event is being recorded. I would now like to turn the conference over to Tom Long. Please go ahead. Speaker1 Thank you, operator. Good afternoon, everyone, and welcome to the Energy Transfer first quarter twenty twenty five earnings call. Also joined today by Mackie McCree and other members of the senior management team who are here to help answer your questions after our prepared remarks. Hopefully, you saw th ...

HOUSTON, May 6, 2025 /PRNewswire/ -- Chord Energy Corporation (NASDAQ: CHRD) ("Chord", "Chord Energy" or the "Company") today reported financial and operating results for the first quarter 2025.Key Takeaways and Updates: Strong Performance: Solid execution and asset performance, combined with disciplined cost control delivered Cash Flow from Operations and Adjusted Free Cash Flow(1) above expectations; Shareholder Returns: Returned 100% of Adjusted Free Cash Flow(1) to shareholders through share repurchase ...