Filing Flows › Plains GP Holdings LP (PAGP) › Q3 2026 › vs Q3 2025
Plains GP Holdings LP (PAGP) Q3 2026 vs Q3 2025 (year over year)
Plains GP Holdings LP's revenue rose $3.6B (+31%) from $11.6B in Q3 2025 to $15.2B in Q3 2026. The biggest changes: Product sales revenues +$3.5B (+32%); Services revenues +$45.0M (+11%). Operating margin 3.4% against 4.2% (-0.8 pts).
Plains GP Holdings LP, Q3 2026: revenue $15.2B (+31% year over year), operating margin 3.4%, net earnings $68.0M, operating cash flow $672M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 3.4% | 4.2% | -0.8 pts |
| Net margin | 0.4% | 0.7% | -0.3 pts |
| Free cash flow margin | 3.5% | 5.5% | -1.9 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Product sales revenues | $14.7B | $11.2B | $3.5B | +32% |
| Services revenues | $473M | $428M | $45.0M | +11% |
| Revenue | $15.2B | $11.6B | $3.6B | +31% |
| Operating profit | $515M | $483M | $32.0M | +7% |
| Costs & expenses | $14.7B | $11.1B | $3.6B | +32% |
| Pre-tax earnings | $420M | $534M | −$114M | -21% |
| Other expense, net | $95.0M | −$51.0M | $146M | — |
| Cost of revenue | $14.0B | $10.6B | $3.4B | +33% |
| General & admin | $79.0M | $84.0M | −$5.0M | -6% |
| Other operating costs | $549M | $426M | $123M | +29% |
| Income tax benefit | $12.0M | −$30.0M | $42.0M | — |
| Net earnings | $68.0M | $83.0M | −$15.0M | -18% |
| Minority interests | $364M | $421M | −$57.0M | -14% |
| Depreciation & amortization | $235M | $230M | $5.0M | +2% |
| Working capital & other | $369M | $504M | −$135M | -27% |
| Operating cash flow | $672M | $817M | −$145M | -18% |
| Free cash flow (OCF − capex) | $533M | $632M | −$99.0M | -16% |
| Capital expenditures | $139M | $185M | −$46.0M | -25% |
Questions
How much did Plains GP Holdings LP's revenue grow year over year in Q3 2026?
Plains GP Holdings LP's revenue rose $3.6B (+31%) from $11.6B in Q3 2025 to $15.2B in Q3 2026.
What drove Plains GP Holdings LP's revenue change in Q3 2026?
Product sales revenues +$3.5B (+32%); Services revenues +$45.0M (+11%).