Plains All American Pipeline reported FY 2025 net income of USD 1.8 billion (+59%) and net income attributable to common unitholders of USD 1.4 billion (+86%). Income from continuing operations, net of tax, was USD 1.4 billion (+57%), while income from discontinued operations, net of tax, was USD 383 million (+66%). FY 2025 product sales revenues were USD 42.5 billion (-10%) and services revenues were USD 1.8 billion (+4%). Interest expense, net totaled USD 554 million (+29%). Adjusted EBITDA was USD 3.4 billion (+1%), with implied DCF of USD 2.1 billion (+3%). Net cash provided by operating activities was USD 2.9 billion. In segment results, FY 2025 Crude Oil segment adjusted EBITDA was USD 2.3 billion (+3%), while the NGL segment posted segment adjusted EBITDA of negative USD 34 million. Total crude oil pipeline tariff volumes averaged 9,680 thousand barrels per day (+8%). The company highlighted its pending sale of its Canadian NGL business to Keyera under a definitive agreement signed June 17, 2025, expected to close around the end of Q1 2026, with expected net proceeds of approximately USD 3.2 billion to be used to reduce leverage. Plains All American also noted acquisitions completed in 2025, including EPIC (Cactus III), and repurchased about 0.5 million common units for USD 8 million. A quarterly distribution of USD 0.4175 per common unit (USD 1.67 annualized) was paid on February 13, 2026 for Q4 2025.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Plains All American Pipeline LP published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001070423-26-000014), on February 27, 2026, and is solely responsible for the information contained therein.