Jun 2026 (Q2 FY26) — Aug 7, 2026
Plains All American Pipeline Q2 FY26 — Strong Crude Performance & Increased Permian Growth Outlook
Read the full callPlains All American Pipeline (PAA) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Plains All American Pipeline earnings: last reported Fri, 7 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 17,693 | +66.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 2.3 | 0.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 1,830 | +771.4% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Price
$25.25 0.00% · $0
Performance +58.6% 1Y
1Y: $15.92 on 17 Oct 2025 → $25.25. High $26.1 (11 Sept 2026), low $15.92 (17 Oct 2025).
- Previous close
- $25.25
- 52-week range
- $16.22 – $26.1
- One year
- +55.67%
Overview
- Symbol
- PAA
- Sector
- Energy
- Exchange
- US
- Currency
- USD
Call summaries
Every analysed call
Plains All American Pipeline earnings calls (PAA)
Financials
What the filings say
Net profit, year on year: +771% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 12,456 | 12,035 | 11,477 | 10,642 | 11,578 | 10,565 | 12,470 | 17,693 |
| Expenses | 12,260 | 12,315 | 11,121 | 10,403 | 11,094 | 10,210 | 12,065 | 17,295 |
| Operating profit | 196 | -16 | 356 | 239 | 484 | 355 | 405 | 398 |
| Operating margin | 1.6% | −0.1% | 3.1% | 2.3% | 4.2% | 3.4% | 3.3% | 2.3% |
| Interest | 113 | 111 | 127 | 133 | 135 | 159 | 167 | 153 |
| Profit before tax | 206 | 166 | 389 | 231 | 459 | 322 | 335 | 376 |
| Tax rate | 3.9% | 27.7% | 2.3% | 1.7% | 1.3% | −1.2% | 0.3% | 26.6% |
| Net profit | 220 | 36 | 443 | 210 | 441 | 342 | 152 | 1,830 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Fixed assets | 14,787 | 15,355 | 14,611 | 14,903 | 15,250 | 15,782 | 13,446 | 16,860 |
| Total assets | 25,511 | 28,677 | 24,497 | 28,609 | 27,892 | 27,355 | 26,562 | 30,169 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 2,608 | 2,504 | 1,514 | 1,996 | 2,408 | 2,727 | 2,490 | 2,936 |
| Cash from investing | -813 | -1,765 | -1,093 | 386 | -526 | -702 | -1,504 | -3,769 |
| Cash from financing | -1,757 | -720 | -435 | -1,984 | -1,931 | -1,976 | -1,077 | 799 |
| Net cash flow | 29 | 16 | -22 | 393 | -52 | 49 | -102 | -20 |
| Capital expenditure | -1,634 | -1,181 | -738 | -336 | -455 | -408 | -448 | -643 |
| Free cash flow | 974 | 1,323 | 776 | 1,660 | 1,953 | 2,319 | 2,042 | 2,293 |
PAA revenue by segment
Natural Gas Liquids shrank from 2% to 0% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Crude Oil | 98% | 96% | 95% | 100% | 100% | 105% | 100% | 100% | +66.9% |
| Natural Gas Liquids | 3% | 5% | 5% | <1% | <1% | -6% | <1% | <1% | -15.4% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Insider filings
19 filings between Jun 29, 2026 and Aug 14, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$51.5K
1 sale by 1 insider
Compensation
not trading decisions- 1
- Award — granted as compensation
- 9
- Option exercise — converted options into shares
- 6
- Tax withheld — shares kept back by the company to cover tax
Also filed: 2 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Ziemba Lawrence Michael | — | $51.5K | Jun 29, 2026 |
Latest filings (34)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 14, 2026 | Chandler Chris R. EVP & COO | Option exercise | 140,691 | $0 |
| Aug 14, 2026 | Chandler Chris R. EVP & COO | Tax withheld | 252,112 | $5.91M |
| Aug 14, 2026 | Goebel Jeremy L. EVP & CCO | Option exercise | 500,000 | $0 |
| Aug 14, 2026 | Goebel Jeremy L. EVP & CCO | Option exercise | 140,691 | $0 |
| Aug 14, 2026 | Goebel Jeremy L. EVP & CCO | Tax withheld | 252,112 | $5.91M |
| Aug 14, 2026 | Goebel Jeremy L. EVP & CCO | Gift | 388,579 | $0 |
| Aug 14, 2026 | Goebel Jeremy L. EVP & CCO | Gift | 388,579 | $0 |
| Aug 14, 2026 | McGee Richard K. EVP, General Counsel & Sec. | Option exercise | 109,165 | $0 |
| Aug 14, 2026 | McGee Richard K. EVP, General Counsel & Sec. | Tax withheld | 42,957 | $1.01M |
| Aug 14, 2026 | Swanson Al EVP & CFO | Option exercise | 109,165 | $0 |
| Aug 14, 2026 | Swanson Al EVP & CFO | Tax withheld | 42,957 | $1.01M |
| Aug 14, 2026 | Herbold Chris Sr. VP Finance & CAO | Option exercise | 100,000 | $0 |
| Aug 14, 2026 | Herbold Chris Sr. VP Finance & CAO | Option exercise | 40,609 | $0 |
| Aug 14, 2026 | Herbold Chris Sr. VP Finance & CAO | Tax withheld | 54,241 | $1.27M |
| Aug 14, 2026 | Chiang Willie CW Chairman & CEO | Option exercise | 346,357 | $0 |
| Aug 14, 2026 | Chiang Willie CW Chairman & CEO | Tax withheld | 136,292 | $3.20M |
| Aug 14, 2026 | Chandler Chris R. EVP & COO | Option exercise | 500,000 | $0 |
| Aug 14, 2026 | PAA GP Holdings LLC Director | Award | 59,200 | $0 |
| Jun 29, 2026 | Ziemba Lawrence Michael Director | Sale | 2,346 | $51.5K |
| Aug 14, 2025 | Herbold Chris Sr. VP Finance & CAO | Tax withheld | 23,284 | $414.0K |
| Aug 14, 2025 | PAA GP Holdings LLC Director | Award | 144,500 | $0 |
| Aug 14, 2025 | McGee Richard K. EVP, General Counsel & Sec. | Option exercise | 176,731 | $0 |
| Aug 14, 2025 | McGee Richard K. EVP, General Counsel & Sec. | Tax withheld | 69,544 | $1.24M |
| Aug 14, 2025 | Swanson Al EVP & CFO | Option exercise | 176,731 | $0 |
| Aug 14, 2025 | Swanson Al EVP & CFO | Tax withheld | 69,544 | $1.24M |
| Aug 14, 2025 | Chiang Willie CW Chairman & CEO | Option exercise | 561,055 | $0 |
| Aug 14, 2025 | Chiang Willie CW Chairman & CEO | Tax withheld | 220,776 | $3.93M |
| Aug 14, 2025 | Chandler Chris R. EVP & COO | Option exercise | 227,864 | $0 |
| Aug 14, 2025 | Chandler Chris R. EVP & COO | Tax withheld | 89,665 | $1.59M |
| Aug 14, 2025 | Goebel Jeremy L. EVP & CCO | Option exercise | 227,864 | $0 |
| Aug 14, 2025 | Goebel Jeremy L. EVP & CCO | Tax withheld | 89,665 | $1.59M |
| Aug 14, 2025 | Goebel Jeremy L. EVP & CCO | Gift | 138,199 | $0 |
| Aug 14, 2025 | Goebel Jeremy L. EVP & CCO | Gift | 138,199 | $0 |
| Aug 14, 2025 | Herbold Chris Sr. VP Finance & CAO | Option exercise | 65,796 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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