Filing Flows › Plains GP Holdings LP (PAGP) › Q3 2026
Plains GP Holdings LP (PAGP) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 9, 2026
Plains GP Holdings LP (PAGP) reported revenue of $15.2B for the third quarter 2026 (Q3 2026), +31% from a year earlier and -14% from the quarter before. Operating margin was 3.4%, net earnings $68.0M (0.4% of revenue).
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 follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $15.2B | -14% | +31% |
| Operating profit | $515M | +30% | +7% |
| Net earnings | $68.0M | -83% | -18% |
| Operating cash flow | $672M | -29% | -18% |
| Free cash flow | $533M | -35% | -16% |
What changed
Revenue was $15.2B in Q3 2026, up 31% year over year and down 14% from the previous quarter. Product sales revenues was the largest line at 97% of revenue. Product sales revenues added $3.5B year over year (up 32%), 99% of the total change.
Operating profit was $0.52B, a 3.4% margin (down 0.8 points year over year). Of the extra revenue versus Q3 2025, 1% reached operating profit, below the 4% margin then. Total costs grew 32% against revenue growth of 31%. The fastest-growing cost line was Cost of revenue (+33%). Net earnings were $0.07B, down 18% year over year. The effective tax rate was -2.9%.
Operating cash flow was $0.67B (down 18% year over year), 156% of net income including minority interests. Non-cash charges added back $0.23B of depreciation and amortization. Capital expenditures of $0.14B left free cash flow of $0.53B.
Questions
What was Plains GP Holdings LP's revenue in the third quarter 2026?
Plains GP Holdings LP (PAGP) reported revenue of $15.2B for the third quarter 2026 (Q3 2026), +31% from a year earlier and -14% from the quarter before.
Was Plains GP Holdings LP profitable in the third quarter 2026?
Operating profit was $515M (3.4% of revenue) and net earnings $68.0M.