Plains All American Q2 2024 Earnings Report
Key Takeaways
Plains All American Pipeline, L.P. reported strong second-quarter 2024 results, exceeding expectations in both the Crude Oil and NGL segments. The company is increasing its annual EBITDA guidance for 2024.
Reported net income attributable to PAA of $250 million and net cash provided by operating activities of $653 million.
Delivered Adjusted EBITDA attributable to PAA of $674 million.
Generated Adjusted Free Cash Flow of $421 million (excluding changes in Assets & Liabilities; including bolt-on acquisition capital).
Successfully priced public offering of $650 million of unsecured senior notes at 5.7% due 2034.
Plains All American
Plains All American
Plains All American Revenue by Segment
Forward Guidance
Raising the mid-point of guidance for full-year 2024 Adjusted EBITDA attributable to PAA by $75 million to a new range of $2.725 - $2.775 billion. Reiterating full-year 2024 Adjusted Free Cash Flow guidance of $1.55 billion (excluding changes in Assets & Liabilities; including bolt-on acquisition capital)
Revenue & Expenses
Visualization of income flow from segment revenue to net income