Plains GP FY26 Q2 net income attributable to PAGP more than doubled to $389 million; revenue rises 69% to $17.22 billion
PAGP•Quarterly results
- Plains GP swung to Q2 net income of $389 million, lifted by $1.65 billion from discontinued operations tied to the Canadian NGL Business sale.
- Income from continuing operations fell 22% to $166 million, while income tax expense from continuing operations widened to $209 million.
- Revenue climbed 69% to $17.69 billion on higher crude oil sales volumes and commodity prices.
- Adjusted EBITDA (non-GAAP) rose 8% to $879 million, reflecting contributions from the Cactus III pipeline acquisition.
- June 30 liquidity totaled $3.73 billion; PAA replaced its credit facilities with a $2.7 billion senior unsecured revolving credit facility maturing June 2031.
