Mar 2026 (Q1 FY26) — May 8, 2026
Plains All American Pipeline, L.P. Q1 FY26 — Increased EBITDA Guidance and Strategic Positioning
Read the full callPlains All American Pipeline (PAGP) earnings
- Jun 2026
- Mar 2026 (Q1 FY26)
- Dec 2025
Plains All American Pipeline earnings: last reported Fri, 8 May 2026, for the quarter ended Mar 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 | 2.2 | +0.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 389 | +1196.7% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Price
$27.31 −0.51% · −$0.14
Performance +61.7% 1Y
1Y: $16.89 on 17 Oct 2025 → $27.31. High $28.47 (1 Sept 2026), low $16.89 (17 Oct 2025).
- Previous close
- $27.45
- 52-week range
- $17.09 – $28.47
- One year
- +59.80%
Overview
- Symbol
- PAGP
- Sector
- Energy
- Exchange
- US
- Currency
- USD
Call summaries
Every analysed call
Plains All American Pipeline earnings calls (PAGP)
Financials
What the filings say
Net profit, year on year: +1197% (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 | 12,261 | 12,317 | 11,122 | 10,405 | 11,095 | 10,212 | 12,067 | 17,296 |
| Operating profit | 195 | -17 | 355 | 237 | 483 | 354 | 403 | 397 |
| Operating margin | 1.6% | −0.1% | 3.1% | 2.2% | 4.2% | 3.4% | 3.2% | 2.2% |
| Interest | 97 | 94 | 107 | 110 | 112 | 138 | 144 | 135 |
| Profit before tax | 205 | 164 | 388 | 229 | 458 | 320 | 333 | 375 |
| Tax rate | 8.8% | 28.7% | 8.3% | 7.0% | 6.5% | 4.4% | 2.4% | 55.7% |
| Net profit | 33 | -11 | 84 | 30 | 83 | 62 | 20 | 389 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Fixed assets | 14,802 | 15,367 | 14,620 | 14,909 | 15,253 | 15,782 | 13,446 | 16,860 |
| Total assets | 26,830 | 29,969 | 25,951 | 29,978 | 29,207 | 28,597 | 27,756 | 31,276 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 2,604 | 2,500 | 1,510 | 1,991 | 2,404 | 2,722 | 2,484 | 2,931 |
| Cash from investing | -813 | -1,765 | -1,093 | 386 | -526 | -702 | -875 | -3,439 |
| Cash from financing | -1,753 | -717 | -430 | -1,979 | -1,927 | -1,971 | -1,702 | 474 |
| Net cash flow | 29 | 15 | -21 | 393 | -52 | 49 | -104 | -20 |
| Capital expenditure | -1,634 | -1,181 | -738 | -336 | -455 | -408 | -448 | -643 |
| Free cash flow | 970 | 1,319 | 772 | 1,655 | 1,949 | 2,314 | 2,036 | 2,288 |
PAGP 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
8 filings, all on Aug 14, 2026.
Open market
decisions to buy or sellNobody bought or sold PAGP on the open market in this window. The filings below are 8 option exercises.
Compensation
not trading decisions- 8
- Option exercise — converted options into shares
Latest filings (25)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 14, 2026 | Burk Victor Director | Option exercise | 7,400 | $0 |
| Aug 14, 2026 | DeSanctis Ellen Director | Option exercise | 7,400 | $0 |
| Aug 14, 2026 | McCarthy Kevin S Director | Option exercise | 7,400 | $0 |
| Aug 14, 2026 | PETERSEN GARY R Director | Option exercise | 7,400 | $0 |
| Aug 14, 2026 | Pruner Alexandra Director | Option exercise | 7,400 | $0 |
| Aug 14, 2026 | RAYMOND JOHN T Director | Option exercise | 7,400 | $0 |
| Aug 14, 2026 | SHACKOULS BOBBY S Director | Option exercise | 7,400 | $0 |
| Aug 14, 2026 | Ziemba Lawrence Michael Director | Option exercise | 7,400 | $0 |
| Aug 14, 2025 | SHACKOULS BOBBY S Director | Option exercise | 7,650 | $0 |
| Aug 14, 2025 | SHACKOULS BOBBY S Director | Option exercise | 11,900 | $0 |
| Aug 14, 2025 | Ziemba Lawrence Michael Director | Option exercise | 7,650 | $0 |
| Aug 14, 2025 | Ziemba Lawrence Michael Director | Option exercise | 11,900 | $0 |
| Aug 14, 2025 | Burk Victor Director | Option exercise | 7,650 | $0 |
| Aug 14, 2025 | Burk Victor Director | Option exercise | 11,900 | $0 |
| Aug 14, 2025 | DeSanctis Ellen Director | Option exercise | 7,650 | $0 |
| Aug 14, 2025 | McCarthy Kevin S Director | Option exercise | 7,650 | $0 |
| Aug 14, 2025 | McCarthy Kevin S Director | Option exercise | 11,900 | $0 |
| Aug 14, 2025 | PETERSEN GARY R Director | Option exercise | 7,650 | $0 |
| Aug 14, 2025 | PETERSEN GARY R Director | Option exercise | 11,900 | $0 |
| Aug 14, 2025 | Pruner Alexandra Director | Option exercise | 7,650 | $0 |
| Aug 14, 2025 | Pruner Alexandra Director | Option exercise | 11,900 | $0 |
| Aug 14, 2025 | RAYMOND JOHN T Director | Option exercise | 7,650 | $0 |
| Aug 14, 2025 | RAYMOND JOHN T Director | Option exercise | 11,900 | $0 |
| Aug 11, 2025 | ARMSTRONG GREG L Director | Gift | 100,000 | $0 |
| Nov 20, 2024 | Burk Victor Director | Gift | 28,600 | $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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