Plains All American Pipeline Reports Third-Quarter 2026 Results
PAA reported net income attributable to PAA of $363 million and operating cash flow of $669 million. Adjusted EBITDA was $711 million, up 6% year over year; the company reaffirmed 2026 adjusted EBITDA guidance of $2.880 billion, plus or minus $50 million.
Plains All American Pipeline, L.P. (PAA) announced its third-quarter 2026 financial results, reporting net income attributable to PAA of $363 million and net cash provided by operating activities of $669 million. The company delivered adjusted EBITDA attributable to PAA of $711 million, a 6% increase compared to the same period in 2025. PAA also provided updates on its strategic initiatives, including the expansion of its Permian gathering footprint in the Midland Basin and the recent acquisition of the Silver Creek gathering system in the Powder River Basin.
Management noted that balance sheet optimization efforts, including the issuance of $1.5 billion in junior subordinated notes and the redemption of $2.3 billion in preferred units, are expected to generate approximately $60 million in annual distributable cash flow accretion. The company remains on track to meet its full-year 2026 adjusted EBITDA guidance of $2.880 billion, plus or minus $50 million.