2023-08-04 08:17:11 ET
- Plains GP Holdings press release ( NASDAQ: PAGP ): Q2 Non-GAAP EPS of $0.25.
- Revenue of $11.6B (+70804.6% Y/Y) misses by $1.18B .
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2023 Guidance Update: Expect to be at the high end of our guidance range of $2.45 - $2.55 billion Adjusted EBITDA attributable to PAA for full-year 2023; year-end 2023 leverage now expected to be <3.5x.
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Maintaining 2023 investment and maintenance capital guidance of $325 million and $195 million respectively, net to PAA (inclusive of sanctioned NGL project); demonstrating a continued focus on capital discipline.
- Free cash flow generation remains robust with approximately $1.6 billion of Free Cash Flow expected in 2023, while meaningfully increasing returns of capital to equity holders and further reducing absolute debt.
For further details see:
Plains GP Holdings reports Q2 earnings; updates FY23 outlook