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Plains All American Pipeline LP (PAA) guidance and outlook
Plains All American Pipeline LP (PAA) lowered its guidance on Nov 6, 2026: EBITDA $2.8B–$2.9B for FY2026. Plains All American Pipeline LP's 10-Q filed Aug 10, 2026 makes 23 forward-looking statements, 1 of them new and 6 no longer said since the filing before.
Guidance and outlook
Latest guidance
| Metric | Period | Range | Change |
|---|---|---|---|
| EBITDA | FY2026 | $2.8B–$2.9B | new |
From the earnings release filed Nov 6, 2026 (8-K on EDGAR).
Forward-looking statements, 10-Q filed Aug 10, 2026
- Variations in our operating results are also caused by changes in volumes, prices, exchange rates, mechanical interruptions, acquisitions, divestitures, investment capital projects and numerous other factors as discussed, as applicable, in “—Analysis of Operating Segments.”
- (4) We exclude our proportionate share of the depreciation and amortization expense (including write-downs related to cancelled projects and impairments) of unconsolidated entities when reviewing Adjusted EBITDA, similar to our consolidated assets.
- (16) Comprised of cash distributions received from unconsolidated entities less equity earnings in unconsolidated entities (adjusted for our proportionate share of depreciation and amortization, including write-downs related to cancelled projects, and selected items impacting comparability of unconsolidated entities).
- We generally expect to fund our short-term cash requirements through cash flow generated from operating activities and/or borrowings under our credit facility or commercial paper program.
- In addition, we generally expect to fund our long-term needs, such as those resulting from investment capital activities, acquisitions or refinancing our long-term debt, through a variety of sources, which may include any or a combination of the sources listed above.
- We believe that we have, and will continue to have, the ability to access our commercial paper program and credit facility, which we use to meet our short-term cash needs.
- We believe that our financial position remains strong and we have sufficient liquid assets, cash flow from operating activities and borrowing capacity under our credit agreements to meet our financial commitments, debt service obligations, contingencies and anticipated capital expenditures.
- In addition to our operating needs, we also use cash for our investment capital projects, maintenance capital activities and acquisition activities.
- In the near term, we do not plan to issue common equity to fund such expenditures.
- updated · Total investment capital for the year ending December 31, 2026 is currently projected to be approximately $535 million ($425 million net to our interest), which includes approximately $10 million related to discontinued operations of the Canadian NGL Business prior to the completion of the divestiture in May 2026.
- Approximately half of our projected investment capital expenditures are expected to be invested in the Permian JV assets.
- updated · Additionally, maintenance capital for 2026 is currently projected to be approximately $195 million ($175 million net to our interest), which includes approximately $20 million related to discontinued operations of the Canadian NGL Business prior to the completion of the divestiture in May 2026.
Plains All American Pipeline LP's latest quarter
Plains All American Pipeline LP, Q3 2026: revenue $15.2B (+31% year over year), operating margin 3.4%, net earnings $363M, operating cash flow $669M. The chart follows the revenue to costs, profit and cash.
Questions
Did Plains All American Pipeline LP raise or lower its guidance?
Plains All American Pipeline LP (PAA) lowered its guidance on Nov 6, 2026: EBITDA $2.8B–$2.9B for FY2026.
What does Plains All American Pipeline LP expect?
Total investment capital for the year ending December 31, 2026 is currently projected to be approximately $535 million ($425 million net to our interest), which includes approximately $10 million related to discontinued operations of the Canadian NGL Business prior to the completion of the divestiture in May 2026. Additionally, maintenance capital for 2026 is currently projected to be approximately $195 million ($175 million net to our interest), which includes approximately $20 million related to discontinued operations of the Canadian NGL Business prior to the completion of the divestiture i
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.