The earnings call provided a balanced view of Plains' ongoing strategic initiatives, including solid financial performance and significant transactions like the NGL business sale. However, challenges such as the decline in the NGL segment and cautious guidance for the year indicate areas of concern.

Company Guidance

In the second quarter of 2025, Plains All American (PAA) reported an adjusted EBITDA of $672 million. The company announced the sale of its NGL business to Keyera for approximately $3.75 billion, expected to close in the first quarter of 2026, which will result in a streamlined crude oil midstream entity with less commodity exposure. PAA plans to use around $3 billion of net proceeds for bolt-on M&A to expand its crude oil-focused portfolio and potential repurchases of Series A and B preferred units. The company also acquired an additional 20% interest in BridgeTex Pipeline for $100 million, increasing its overall interest to 40%. For the full year 2025, PAA maintained its EBITDA guidance range of $2.8 billion to $2.95 billion and expects to generate approximately $870 million of adjusted free cash flow, along with increasing its growth capital guidance to $475 million.

Solid Second Quarter Adjusted EBITDA

Plains reported a solid second quarter adjusted EBITDA attributable to Plains of $672 million.

NGL Business Sale

Execution of definitive agreements to sell substantially all of the NGL business to Keyera for approximately USD 3.75 billion, with expected close in the first quarter of 2026.

Bolt-on Acquisition Strategy

Year-to-date, Plains completed 5 bolt-on transactions totaling approximately $800 million. Recently acquired an additional 20% interest in BridgeTex Pipeline Company LLC for $100 million.

Permian Volume Growth

Crude Oil segment adjusted EBITDA of $580 million benefited from Permian volume growth and contributions from recent bolt-on acquisitions.

Financial Flexibility and Strategy

Plains expects to generate approximately $870 million of adjusted free cash flow in 2025 and maintain financial flexibility for growth and capital allocation.

Plains GP Holdings (PAGP) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

PAGP Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 30, 2025	2025 (Q3)	0.41 / -	0.17	―	―	―
Aug 08, 2025	2025 (Q2)	0.39 / 0.15	0.2	-25.00% (-0.05)	―	―
May 09, 2025	2025 (Q1)	0.43 / 0.42	0.21	100.00% (+0.21)	―	―
Feb 07, 2025	2024 (Q4)	0.46 / -0.05	0.27	-118.52% (-0.32)	―	―
Nov 08, 2024	2024 (Q3)	0.38 / 0.17	0.15	13.33% (+0.02)	―	―
Aug 02, 2024	2024 (Q2)	0.39 / 0.20	0.25	-20.00% (-0.05)	―	―
May 03, 2024	2024 (Q1)	0.47 / 0.21	0.35	-40.00% (-0.14)	―	―
Feb 09, 2024	2023 (Q4)	0.40 / 0.27	0.23	17.39% (+0.04)	―	―
Nov 03, 2023	2023 (Q3)	0.30 / 0.15	0.36	-58.33% (-0.21)	―	―
Aug 04, 2023	2023 (Q2)	0.26 / 0.25	0.16	56.25% (+0.09)	―	―

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

PAGP Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 08, 2025	$19.29	$19.24	-0.26%
May 09, 2025	$17.89	$17.40	-2.74%
Feb 07, 2025	$20.29	$19.92	-1.82%
Nov 08, 2024	$17.77	$17.25	-2.93%

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.

FAQ

When does Plains GP Holdings (PAGP) report earnings?

Plains GP Holdings (PAGP) is schdueled to report earning on Oct 30, 2025, After Close (Confirmed).

What is Plains GP Holdings (PAGP) earnings time?

Plains GP Holdings (PAGP) earnings time is at Oct 30, 2025, After Close (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 PAGP EPS forecast?

PAGP EPS forecast for the fiscal quarter 2025 (Q3) is 0.41.

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