PLAINS ALL AMERICAN PIPELINE LP has recently released its 10-Q report, providing a detailed overview of its financial condition and results of operations. The company, headquartered in Houston, Texas, operates through two segments: Crude Oil and NGL. The Crude Oil segment offers gathering, transporting, terminaling, storage, and other related services, while the NGL segment is involved in natural gas processing, NGL fractionation, storage, transportation, and terminaling.
In the 10-Q report, PLAINS ALL AMERICAN PIPELINE LP announced its pending sale of the Canadian NGL Business to Keyera, with the transaction expected to close in the first quarter of 2026. This strategic move aligns with the company's objective to focus on its core midstream crude oil operations and reduce exposure to commodity price fluctuations and seasonality.
The report also provided a comprehensive overview of the company's financial performance. For the six months ended June 30, 2025, PLAINS ALL AMERICAN PIPELINE LP recognized net income attributable to PAA of $653 million, compared to $515 million for the same period in 2024. The company's product sales revenues decreased by 17% to $10.2 billion for the three months ended June 30, 2025, compared to $12.4 billion for the same period in 2024. Similarly, for the six months ended June 30, 2025, product sales revenues decreased by 10% to $21.2 billion, compared to $23.6 billion for the same period in 2024.
The report also delved into the company's non-GAAP financial measures, including Adjusted EBITDA, Adjusted EBITDA attributable to PAA, and Implied DCF, providing investors with additional insights into the company's performance and ability to fund distributions to its unitholders through cash generated by its operations.
Following these announcements, the company's shares moved -0.06%, and are now trading at a price of $17.86. If you want to know more, read the company's complete 10-Q report here.
