PAA - Plains All American Posts Mixed Q3 Earnings Expects 2 Deals To Enhance Permian JV | Benzinga
Plains All American Pipeline LP (NASDAQ: PAA) reported third-quarter (Q3) 2023 revenue of $12.07 billion, missing the consensus of $14.5 billion.
Adjusted EPS of 35 cents (+6% Y/Y) beat the consensus of 26 cents. Adjusted EBITDA attributable to PAA rose 6% Y/Y to $662 million.
The crude Oil Segment Adjusted EBITDA rose 3% Y/Y to $553 million on higher tariff volumes, tariff escalations, and contributions from acquisitions.
NGL Segment Adjusted EBITDA grew 15% Y/Y to $99 million, mainly aided by favorable NGL basis differentials and spot opportunities.
Operating cash flow stood at $85 million in the quarter.
"We closed two bolt-on ...