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Plains All American (PAA)
NASDAQ:PAA
Holding PAA?
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Earnings Data
Report Date
Feb 07, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.4Last Year’s EPS
0.42Same Quarter Last Year
Moderate Buy
Based on 11 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2018
|% Change Since: 13.39%
|Next Earnings Date:Aug 07, 2018
Earnings Call Sentiment|Positive
The earnings call reflected a generally positive outlook with Plains All American performing well against their guidance, credit ratings improving, and significant volume growth in the Permian. However, they faced financial charges due to legal settlements from past incidents.Company Guidance
During the Plains All American (PAA) Q3 2024 earnings call, the company provided updated guidance, expecting to reach the upper end of its adjusted EBITDA range of $2.725 billion to $2.75 billion for the year. The company highlighted robust Permian volume growth, maintaining their forecast of 200,000 to 300,000 barrels per day. They also mentioned progress in their NGL business with the Fort Saskatchewan fractionation expansion project on track for completion in the first half of 2025. PAA noted the acquisition of the Fivestones Permian gathering system, contributing to their bolt-on acquisition strategy. They reported a Q3 adjusted EBITDA of $659 million, reflecting strong Permian volumes and updated their 2024 guidance to reflect approximately $1.45 billion in projected adjusted free cash flow. Plains also addressed legal settlements related to a 2015 oil spill, booking a $120 million charge and expecting $175 million reimbursement from insurance claims by Q1 2025. The company emphasized their focus on efficient growth, capital discipline, and returning capital to investors.Top End of Adjusted EBITDA Guidance
Plains All American now expects to be towards the top end of their 2024 adjusted EBITDA guidance range of $2.725 billion to $2.75 billion.
Permian Volume Growth
Permian volume growth is on track with the original forecast of 200,000 to 300,000 barrels a day for 2024, with substantial growth primarily driven by organic factors.
Fort Saskatchewan Project On Schedule
The Fort Saskatchewan fractionation expansion project is on track to be completed on schedule and on budget in the first half of 2025.
Moody's Credit Rating Upgrade
Moody's upgraded Plains to Baa2 with a stable outlook, achieving a mid BBB rating at all 3 credit rating agencies.
Higher Permian Volume and Free Cash Flow
Reported third quarter adjusted EBITDA was $659 million, benefiting from higher Permian volumes. Expected to generate approximately $1.45 billion of adjusted free cash flow for 2024.
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PAA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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PAA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 08, 2024 | $17.78 | $17.28 | -2.81% |
| Aug 02, 2024 | $17.66 | $17.09 | -3.23% |
| May 03, 2024 | $16.62 | $16.87 | +1.50% |
| Feb 09, 2024 | $14.54 | $14.59 | +0.34% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Plains All American (PAA) report earnings?
Plains All American (PAA) is schdueled to report earning on Feb 07, 2025, TBA Not Confirmed.
What is Plains All American (PAA) earnings time?
Plains All American (PAA) earnings time is at Feb 07, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PAA EPS forecast?
PAA EPS forecast for the fiscal quarter 2024 (Q4) is 0.4.
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