Plains All American Q2 FY26 net income attributable to PAA swings to profit of $1.83 billion; revenue rises to $17.69 billion
PAA•Cash flow, leverage and guidance improve
Adjusted EBITDA attributable to PAA rose 10% to $738 million from a year earlier.
Net cash provided by operating activities climbed 38% to $956 million. The quarterly cash distribution increased 10% to $0.4175 per unit.
The pro forma leverage ratio ended the quarter at 3.3x after about $2.9 billion of debt reduction funded by divestiture proceeds.
Plains raised 2026 organic growth capital guidance to $400 million-$450 million, including a 75 Mbbl/d Cactus III expansion, and cut maintenance capital guidance by $10 million to $175 million.
Quarterly profit jumps on Canadian NGL divestiture gain
Plains All American posted second-quarter FY26 net income attributable to PAA of $1.83 billion, boosted by an about $1.6 billion gain on the Canadian NGL divestiture.
Revenue rose to $17.69 billion.
