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AI brief of an SEC Form 8-K · PLAINS GP HOLDINGS LP (PAGP)

Plains GP Holdings Q2 net income rises to $1.83 billion on Canadian NGL sale gain

Positive Impact 4 of 5 earnings Written later

Plains GP Holdings reported second-quarter 2026 results that were lifted by a net gain of about $1.6 billion from the May 12, 2026 sale of its Canadian NGL business to Keyera Corp. Excluding that gain, the results still improved, with Adjusted EBITDA attributable to PAA up 10% and the quarterly distribution up 10% to $0.4175 per unit. The company also raised its 2026 organic growth capital range and lowered its maintenance capital guidance.

Key points

  • Net income attributable to PAA was $1.830 billion, or $2.51 per diluted unit, versus $210 million, or $0.21, a year earlier.
  • Adjusted EBITDA attributable to PAA rose to $738 million from $672 million, and pro forma leverage was 3.3x at quarter-end.
  • 2026 organic growth capital guidance was raised to $400 million to $450 million from $350 million, and maintenance capital guidance was cut by $10 million to $175 million.
  • Quarterly distribution was $0.4175 per unit, up from $0.3800 a year earlier.

The filing

CompanyPLAINS GP HOLDINGS LP (PAGP)
Form8-K, current report
Filed with the SECAug 7, 2026, 9:15 AM ET
Accession number0001581990-26-000023

Items reported: 2.01 Acquisition or Disposition Completed7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 8:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 07, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.