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Plains All American ( (PAA) ) has shared an update.
Plains All American Pipeline reported strong third-quarter 2024 financial results, with a net income of $220 million and an adjusted EBITDA of $659 million. The company executed a strategic acquisition in the Permian Basin and lowered its leverage ratio to 3.0x, below its target range. A credit upgrade by Moody’s to Baa2 enhances its financial standing. The company remains optimistic about its long-term growth and cash flow generation potential, aiming for high-end full-year guidance with a focus on returning capital to investors.
For a thorough assessment of PAA stock, go to TipRanks’ Stock Analysis page.
