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Jun 30, 2024
Plains All American Q2 2024 Earnings Report
Reported strong second-quarter results and raised full-year 2024 Adjusted EBITDA guidance.
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.
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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