Quarterly ResultAug 7, 2026, 07:34 AM
Plains All American Q2 Net Income $1.83B; NGL Divestment
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 gain from the Canadian NGL Business divestiture. The company also achieved Adjusted EBITDA attributable to PAA of $738 million and reduced its debt by approximately $2.9 billion, bringing its pro forma leverage ratio to 3.3x. Additionally, Plains All American increased its 2026 organic growth capital to $400-$450 million, reflecting strategic investments and operational efficiencies.
Key Highlights
- Net income attributable to PAA was $1.830 billion, including a $1.6 billion gain from NGL divestiture.
- Adjusted EBITDA attributable to PAA reached $738 million.
- Pro forma leverage ratio was 3.3x, at the low end of the target range.
- Reduced debt by approximately $2.9 billion using proceeds from the NGL divestiture.
- Paid a quarterly cash distribution of $0.4175 per unit.
- Increased 2026 organic growth capital from $350 million to $400-$450 million.
- Crude Oil Adjusted EBITDA increased 19% compared to Q2 2025.
- NGL Adjusted EBITDA decreased 54% due to the Canadian NGL Business divestiture.
Price Impact
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