Quarterly ResultAug 7, 2026, 09:17 AM
Plains All American Q2 Net Income $1.83B; Adjusted EBITDA $738M
AI Summary
Plains All American Pipeline reported strong second-quarter 2026 results, with net income attributable to PAA reaching $1.830 billion, significantly boosted by a $1.6 billion net gain from the Canadian NGL Business divestiture. The company achieved an Adjusted EBITDA attributable to PAA of $738 million and reduced its pro forma leverage ratio to 3.3x. Plains All American also increased its 2026 organic growth capital to $400-$450 million and reduced maintenance capital guidance.
Key Highlights
- Net income attributable to PAA was $1.830 billion for Q2 2026.
- Reported a net gain of approximately $1.6 billion from Canadian NGL Business divestiture.
- Adjusted EBITDA attributable to PAA reached $738 million in Q2 2026.
- Pro forma leverage ratio was 3.3x, at the low end of the target range.
- Paid a quarterly cash distribution of $0.4175 per unit.
- Increased 2026 organic growth capital to $400-$450 million.
- Reduced maintenance capital guidance by $10 million to $175 million.
- Adjusted EBITDA from Crude Oil increased 19% year-over-year to $690 million.
Price Impact
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