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

Plains All American Pipeline (NASDAQ:PAA) posted its earnings results on Friday. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.40 by ($0.44), Zacks reports. The company had revenue of $15.17 billion for the quarter. Plains All American Pipeline had a return on equity of 12.13% and a net margin of 5.29%. The firm’s revenue for the quarter was up 31.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 earnings per share.

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 Price Performance

PAA traded down $0.61 during trading on Friday, hitting $23.92. The company’s stock had a trading volume of 4,567,904 shares, compared to its average volume of 2,438,608. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69. Plains All American Pipeline has a twelve month low of $16.35 and a twelve month high of $26.98. The business’s fifty day simple moving average is $25.23 and its 200 day simple moving average is $22.94. The firm has a market capitalization of $16.88 billion, a price-to-earnings ratio of 6.63, a P/E/G ratio of 9.09 and a beta of 0.58.

Plains All American Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be given a dividend of $0.4175 per share. The ex-dividend date 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: Plains announced a distribution increase, a potential support for income-focused investors. Plains All American Reports Third-Quarter Results, Distribution Rises
• Positive Sentiment: Higher pipeline volumes and the Cactus III acquisition contributed to EBITDA growth, while management pointed to roughly 200,000 barrels per day of targeted Permian growth. Plains All American Q3 Earnings Lag Estimates, Sales Increase Y/Y Plains All American narrows 2026 adjusted EBITDA guidance
• Neutral Sentiment: The company narrowed its 2026 adjusted EBITDA outlook to $2.88 billion, plus or minus $50 million. A tighter range provides more guidance, though the headline does not indicate a higher forecast. 2026 adjusted EBITDA guidance
• Negative Sentiment: Quarterly EPS was a loss of $0.04, missing the $0.40 consensus estimate and falling from $0.39 a year earlier. The sharp earnings miss likely weighed on sentiment despite revenue rising 31.1% year over year to $15.17 billion. Plains All American Reports Third-Quarter 2026 Results

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Barclays upped their price objective on Plains All American Pipeline from $23.00 to $24.00 and gave the stock an “underweight” rating in a research report on Monday, September 21st. Wall Street Zen lowered shares of Plains All American Pipeline from a “buy” rating to a “hold” rating in a report on Saturday. UBS Group lifted their target price on shares of Plains All American Pipeline from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, October 9th. Jefferies Financial Group boosted their target price on shares of Plains All American Pipeline from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, October 27th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $28.00 price target on shares of Plains All American Pipeline in a report on Monday, October 19th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.07.

Plains All American Pipeline Company Profile