Plains All American Pipeline Raises FY 2026 Adjusted EBITDA Guidance Midpoint by $130 Million to $2.880 Billion, Plus or Minus $75 Million

Written by Emily J. Thompson, Senior Investment Analyst

Source: moomoo

Updated: 2 days ago

0mins

PAA-1.67%

PAGP-1.86%

Should l Buy PAA?

Source: moomoo

Pipeline Financial Update: The Plains All American pipeline is projected to increase its midpoint guidance for FY 2026 by $130 million, raising the total to $2.880 billion, with a variance of +/- $75 million.
Impact on Stakeholders: This financial adjustment may influence stakeholders' expectations and investment strategies related to the pipeline's performance and profitability.

Trade with 70% Backtested Accuracy

Stop guessing "Should I Buy PAA?" and start using high-conviction signals backed by rigorous historical data.

Analyst Views on PAA

Wall Street analysts forecast PAA stock price to fall

8 Analyst Rating

3 Buy

4 Hold

1 Sell

Hold

Current: 22.090

Low

16.50

Averages

20.19

High

23.00

Current: 22.090

Low

16.50

Averages

20.19

High

23.00

Seaport Research

Buy

maintain

$22 -> $24

2026-05-04

Reason

Seaport Research

Price Target

$22 -> $24

AI Analysis

2026-05-04

maintain

Buy

Reason

Seaport Research raised the firm's price target on Plains GP Holdings to $24 from $22 and keeps a Buy rating on the shares. The company is "well-positioned" for commodity price volatility as well as the potential for higher U.S. exports, the analyst tells investors.

Barclays

Theresa Chen

Underweight

maintain

$18 -> $21

2026-04-10

Reason

Barclays

Theresa Chen

Price Target

$18 -> $21

2026-04-10

maintain

Underweight

Reason

Barclays analyst Theresa Chen raised the firm's price target on Plains All American to $21 from $18 and keeps an Underweight rating on the shares. The firm says expectations for structurally higher crude prices and increased U.S. producer activity supports better long-term growth prospects across Plains' crude-focused footprint.

Unlock Full Analyst Thesis， Get the complete breakdown of rating reason for PAA

Unlock Now

About PAA

Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil and natural gas liquids (NGL). It owns a network of pipeline gathering and transportation systems, in addition to terminalling, storage, processing, fractionation and other infrastructure assets serving key producing basins, transportation corridors and major market hubs and export outlets in the United States and Canada. Its Crude Oil segment operations consist of gathering and transporting crude oil using pipelines, gathering systems, trucks and, at times, on barges or railcars. Its assets provide services to third parties as well as to its merchant activities. Its NGL segment operations involve natural gas processing and NGL fractionation, storage, transportation and terminalling. NGL segment offers merchant activities including the acquisition of extraction rights from producers and/or shippers of the gas streams that pass through its Empress facility.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

Plains All American Pipeline Q1 2026 Earnings Insights

2 days agoseekingalpha

Increased EBITDA Guidance: Plains All American Pipeline reported an adjusted EBITDA of $730 million for Q1, and management raised the midpoint of their 2026 EBITDA guidance by $130 million to $2.88 billion, reflecting confidence in future growth driven by market dynamics.
NGL Asset Sale Proceeds: The expected net proceeds from the NGL asset sale are approximately $3.3 billion, which is $100 million higher than previous estimates, allowing the company to forgo a special distribution, thereby enhancing financial flexibility.
Capital Expenditure Plans: Growth capital expenditures for 2026 remain at $350 million, while maintenance capital has increased to $185 million, indicating ongoing investment in NGL assets aimed at improving operational efficiency and competitive positioning.
Market Uncertainty Risks: Management highlighted that despite the optimistic EBITDA guidance, there are challenges posed by geopolitical factors and market volatility, particularly as U.S. producer behavior has not yet shown significant changes, necessitating close monitoring of future market performance.

Plains All American Q1 Earnings Beat Expectations

2 days agoseekingalpha

Earnings Performance: Plains All American Pipeline reported a Q1 Non-GAAP EPS of $0.39, missing estimates by $0.03, yet revenue of $12.47 billion, up 8.6% year-over-year, exceeded expectations by $450 million, indicating robust revenue growth.
Adjusted EBITDA: The company delivered an adjusted EBITDA of $730 million in Q1, reflecting ongoing improvements in operational efficiency and profitability, with expectations to return to the midpoint of the leverage target range following the NGL divestiture, enhancing financial stability.
Cash Distribution: A quarterly cash distribution of $0.4175 per unit, annualized to $1.67, yields approximately 7.5%, demonstrating the company's commitment to shareholder returns despite market fluctuations.
2026 Outlook: The midpoint of the full-year 2026 adjusted EBITDA guidance has been raised by $130 million to $2.880 billion, reflecting a strong oil macro environment, with projected adjusted free cash flow of approximately $1.850 billion, showcasing the company's growth potential in the coming years.

Plains All American Pipeline Reports Q1 Profit Decline

2 days agoNASDAQ.COM

Profit Decline: Plains All American Pipeline reported a Q1 profit of $152 million, or $0.14 per share, which is a significant drop from last year's $443 million and $0.49 per share, indicating pressure on the company's profitability.
Adjusted Earnings: Excluding items, the adjusted earnings stood at $325 million, or $0.39 per share, which, while lower than last year, reflects the company's efforts in cost control amidst challenging market conditions.
Revenue Growth: Despite the profit decline, the company achieved a revenue increase of 8.7% in Q1, reaching $12.470 billion compared to $11.477 billion last year, suggesting an uptick in business volume.
Market Reaction: The profit drop may negatively impact investor confidence, particularly as the company strives to enhance revenue, necessitating close monitoring of its ability to restore profitability in the future.

Plains All American Reports Strong Q1 Results and Raises 2026 EBITDA Guidance

2 days agoNewsfilter

Q1 Net Income: Plains All American reported a net income of $152 million for Q1 2026, reflecting a 66% decline year-over-year, yet demonstrating resilience in the current oil and gas market, which is expected to lay a solid foundation for future financial performance.
Adjusted EBITDA Growth: The company achieved an adjusted EBITDA of $730 million in Q1, down 3% from 2025, but raised its 2026 EBITDA guidance by $130 million to $2.88 billion, indicating a strong recovery in the oil market and contributions from its NGL business.
Increased Cash Distribution: The quarterly cash distribution was set at $0.4175 per unit, representing an annualized yield of approximately 7.5%, which not only boosts investor confidence but also underscores the company's commitment to financial discipline and capital returns.
Capital Expenditure Plans: The growth capital expenditure for 2026 remains at $350 million, with maintenance capital rising to $185 million, reflecting the company's strategic decision to continue investing in infrastructure to support future growth.