By Nicholas G. Miller

Plains All American Pipeline raised its full-year guidance on the back of a strong oil market as the war in the Middle East disrupts supply.

The energy-infrastructure company posted first-quarter net income of $152 million, or 14 cents a share, compared with $443 million, or 49 cents a share, the year prior.

Adjusted earnings were 39 cents a share. Analysts polled by FactSet expected 37 cents a share.

Revenue totaled $12.47 billion, up from $11.48 billion a year earlier. Wall Street expected $12.02 billion.

The company upped the midpoint of its guidance for adjusted earnings before interest, taxes, depreciation and amortization by $130 million to $2.88 billion, plus or minus $75 million.

"Global events this year illustrate the importance of reliable, secure and responsibly produced energy and have accelerated the timing of our view for a more constructive crude oil market," said Chief Executive Willie Chiang. "Our integrated business model and asset base connecting U.S. crude production to the global markets are critical to meeting global energy demand."

Write to Nicholas G. Miller at nicholas.miller@wsj.com.

(END) Dow Jones Newswires

May 08, 2026 08:01 ET (12:01 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.