Plains All American Pipeline (NASDAQ:PAA) Issues Quarterly Earnings Results, Misses Estimates By $0.44 EPS

Plains All American Pipeline (NASDAQ:PAA) released its quarterly earnings results on Friday. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.44), Zacks reports. The firm had revenue of $15.17 billion during the quarter. Plains All American Pipeline had a net margin of 5.29% and a return on equity of 12.13%. The firm’s quarterly revenue was up 31.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 EPS.

Here are the key takeaways from Plains All American Pipeline’s conference call:

• Plains reported third-quarter adjusted EBITDA of $711 million and narrowed its 2026 guidance range to a $2.88 billion midpoint; management expects results at or slightly above that midpoint.
• The company completed the sale of its Canadian NGL business, captured $50 million in Cactus III acquisition synergies, and remains on track for another $50 million in organizational efficiencies by year-end 2026.
• Growth initiatives include a new 270,000-acre Midland gathering dedication and the Silver Spur acquisition in the Powder River Basin, which adds a system transporting about 125,000 barrels per day. Management expects Silver Spur to build toward stronger contributions from 2028, with Permian pipeline expansions paced to market demand.
• A $1.5 billion junior subordinated notes offering funded the redemption of all preferred units; Plains expects the capital-structure changes to add about $60 million, or $0.09 per unit, to annual distributable cash flow while keeping leverage within its target range.
• Fourth-quarter EBITDA is implied at about $700 million, roughly $10 million below the third quarter as some market-related benefits moderate. Management cautioned that those opportunities may not recur at the same level in 2027.

Plains All American Pipeline Stock Down 2.5%

Shares of NASDAQ:PAA opened at $23.92 on Friday. Plains All American Pipeline has a 12 month low of $16.35 and a 12 month high of $26.98. The company’s 50-day moving average price is $25.23 and its two-hundred day moving average price is $22.94. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. The firm has a market cap of $16.88 billion, a P/E ratio of 7.97, a P/E/G ratio of 8.47 and a beta of 0.58.

Plains All American Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be issued a dividend of $0.4175 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $1.67 dividend on an annualized basis and a yield of 7.0%. Plains All American Pipeline’s dividend payout ratio is currently 46.26%.

Plains All American Pipeline News Summary

Here are the key news stories impacting Plains All American Pipeline this week:

• Positive Sentiment: PAA raised its distribution, a shareholder return measure that may appeal to income-focused investors. Plains All American Reports Third-Quarter Results, Distribution Rises
• Positive Sentiment: Higher pipeline volumes and the Cactus III acquisition boosted EBITDA. Management also narrowed its 2026 adjusted EBITDA outlook to about $2.88 billion, plus or minus $50 million, and is targeting roughly 200,000 barrels per day of Permian growth—potentially supporting future throughput. Plains All American narrows 2026 adjusted EBITDA guidance
• Neutral Sentiment: Revenue rose 31.1% year over year to $15.17 billion, though revenue growth alone did not translate into earnings that met expectations. Plains All American Q3 earnings lag estimates, sales increase year over year
• Negative Sentiment: Quarterly EPS was a loss of $0.04, versus analyst expectations for earnings of $0.40 and $0.39 earned a year earlier. The sizable miss is a likely near-term headwind, despite higher sales. Plains All American quarterly earnings results

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Royal Bank Of Canada raised their price objective on shares of Plains All American Pipeline from $23.00 to $26.00 and gave the stock a “sector perform” rating in a report on Monday, August 17th. Zacks Research upgraded shares of Plains All American Pipeline from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 2nd. UBS Group boosted their target price on Plains All American Pipeline from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, October 9th. Wall Street Zen lowered Plains All American Pipeline from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Truist Financial increased their price target on Plains All American Pipeline from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Plains All American Pipeline currently has a consensus rating of “Moderate Buy” and an average target price of $26.07.

About Plains All American Pipeline