Plains Q3 net income falls 18% to $363 million; adjusted EBITDA rises 6%
Plains reported third-quarter 2026 results on November 6, 2026. Net income attributable to PAA fell to $363 million from $441 million, and diluted net income per common unit turned to a loss of $0.06 from a profit of $0.55, while adjusted EBITDA attributable to PAA rose 6% to $711 million on revenues of $15.2 billion. Management said the company is on track to meet full-year 2026 adjusted EBITDA guidance attributable to PAA of $2.880 billion, plus or minus $50 million, so unitholders see a mixed quarter: the operating measure grew, but reported profit declined.
Key points
- Net income attributable to PAA was $363 million, down 18% from $441 million a year earlier.
- Diluted net loss per common unit was $0.06, compared with earnings of $0.55 per unit in the third quarter of 2025.
- Adjusted EBITDA attributable to PAA rose 6% to $711 million; revenues were $15.2 billion versus $11.6 billion.
- Full-year 2026 adjusted EBITDA guidance attributable to PAA of $2.880 billion plus or minus $50 million was reaffirmed as on track, and a quarterly distribution of $0.4175 per unit was paid.
The filing
Written by AI on Nov 9, 2026, 7:05 AM ET, from this filing only.
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.