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Plains GP Holdings (PAGP)
NASDAQ:PAGP
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Earnings Data
Report Date
Feb 07, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.5Last Year’s EPS
0.27Same Quarter Last Year
Moderate Buy
Based on 8 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2018
|% Change Since: 16.37%
|Next Earnings Date:Aug 07, 2018
Earnings Call Sentiment|Positive
The earnings call for Plains All American was generally positive, with strong financial performance, successful execution of growth strategies, and a credit rating upgrade as key highlights. However, there are lingering challenges such as legal settlements and macroeconomic uncertainties that the company continues to navigate.Company Guidance
In the Plains All American and Plains GP Holdings Third Quarter 2024 Earnings Call, the company provided updated guidance indicating they expect to reach the higher end of their adjusted EBITDA guidance range for 2024, set between $2.725 billion and $2.775 billion. The call highlighted strong operational performance, particularly in Permian volume growth, which aligns with the forecasted range of 200,000 to 300,000 barrels per day for the year. Moreover, Plains is on track with the Fort Saskatchewan Fractionation expansion project, slated for completion in the first half of 2025. The company also reported a $659 million adjusted EBITDA for the third quarter, driven by higher Permian volumes, and expects to generate around $1.45 billion in adjusted free cash flow for 2024, including $140 million allocated for bolt-on acquisitions. Additionally, they have settled two lawsuits related to a 2015 oil spill, contributing to a $120 million charge, while anticipating resolution of a $175 million insurance claim in early 2025. Plains remains committed to an efficient growth strategy and enhancing their financial profile, with recent recognition from Moody's upgrading their credit rating to Baa2 with a stable outlook.Strong Financial Performance
Plains All American's third quarter adjusted EBITDA net to PAA was $659 million, with expectations to be towards the top end of the 2024 adjusted EBITDA guidance range of $2.725 billion to $2.775 billion.
Permian Volume Growth
Permian volume growth remains on track with the original forecast of 200,000 to 300,000 barrels a day for 2024, despite lower than forecasted horizontal rig counts.
Fort Saskatchewan Expansion Project
NGL business is on track to complete the Fort Saskatchewan Fractionation expansion project on schedule and on budget in the first half of 2025.
Credit Rating Upgrade
Moody's upgraded Plains All American to Baa2 with a stable outlook, achieving the target of having a mid BBB rating at all three credit rating agencies.
Successful Bolt-on Acquisition Strategy
Plains acquired the Fivestones Permian gathering system from Rattler Midstream, enhancing their financial profile and creating incremental growth opportunities.
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PAGP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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PAGP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 08, 2024 | $18.82 | $18.27 | -2.92% |
| Aug 02, 2024 | $18.65 | $18.07 | -3.11% |
| May 03, 2024 | $17.45 | $17.78 | +1.89% |
| Feb 09, 2024 | $15.26 | $15.40 | +0.92% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Plains GP Holdings (PAGP) report earnings?
Plains GP Holdings (PAGP) is schdueled to report earning on Feb 07, 2025, TBA Not Confirmed.
What is Plains GP Holdings (PAGP) earnings time?
Plains GP Holdings (PAGP) earnings time is at Feb 07, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PAGP EPS forecast?
PAGP EPS forecast for the fiscal quarter 2024 (Q4) is 0.5.
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