PAA - Plains All American Pipeline Non-GAAP EPS of $0.33 misses by $0.02 revenue of $12.95B misses by $2.1B

• Plains All American Pipeline press release ( NASDAQ: PAA ): Q4 Non-GAAP EPS of $0.33 misses by $0.02 .
• Revenue of $12.95B (flat Y/Y) misses by $2.1B .
• 2023 Outlook
• Expect full-year 2023 Adjusted EBITDA attributable to PAA of $2.45 - $2.55 billion and year-end 2023 leverage of +/- 3.5x
• Increased the annualized common distribution by $0.20 to $1.07 per unit in January 2023 (to be paid in February)
• Expect to generate approximately $1.60 billion of Free Cash Flow in 2023, underpinning multi-year return of capital to equity holders and absolute debt reduction
• Remain focused on disciplined capital investments, anticipating full-year 2023 Investment and Maintenance Capital of $325 million and $195 million, net to PAA

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