Filing Flows › Plains GP Holdings LP (PAGP) › Q4 2024
Plains GP Holdings LP (PAGP) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Feb 28, 2025
Plains GP Holdings LP (PAGP) reported revenue of $12.0B for the fourth quarter 2024 (Q4 2024), +6% from a year earlier and -3% from the quarter before. Operating margin was -0.1%, net earnings $116M (1.0% of revenue).
Plains GP Holdings LP, Q4 2024: revenue $12.0B (+6% year over year), operating margin -0.1%, net earnings $116M, operating cash flow $726M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $12.0B | -3% | +6% |
| Operating profit | −$17.0M | — | — |
| Net earnings | $116M | — | — |
| Operating cash flow | $726M | +6% | -28% |
| Free cash flow | $365M | — | -49% |
What changed
Revenue was $12.0B in Q4 2024, up 6% year over year and down 3% from the previous quarter.
Operating costs exceeded revenue by $0.02B, an operating margin of -0.1%. Total costs grew 11% against revenue growth of 6%. Net earnings were −$0.01B. The effective tax rate was 28.8%. Non-operating items added $0.18B, 110% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $0.73B (down 28% year over year), 626% of net income including minority interests. Non-cash charges added back $0.26B of depreciation and amortization. Working capital and other items added $0.35B. After net cash used in investing activities, net ($0.25B) and cash distributions paid to noncontrolling interests ($0.11B), adjusted free cash flow as the company reports it was $0.36B.
Questions
What was Plains GP Holdings LP's revenue in the fourth quarter 2024?
Plains GP Holdings LP (PAGP) reported revenue of $12.0B for the fourth quarter 2024 (Q4 2024), +6% from a year earlier and -3% from the quarter before.
Was Plains GP Holdings LP profitable in the fourth quarter 2024?
Operating loss was $17.0M (-0.1% of revenue) and net earnings $116M.