Filing Flows › Plains GP Holdings LP (PAGP) › How it makes money
How Plains GP Holdings LP (PAGP) makes money
Plains GP Holdings LP (PAGP) made $17.7B of revenue in the second quarter 2026 (Q2 2026), +66% from a year earlier. Product sales revenues brought in $17.2B (97%); Services revenues brought in $472M (3%). Of every dollar of revenue, 2¢ was left as operating profit, 2¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q2 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Product sales revenues | $17.2B | 97.3% | +43% | +69% |
| Services revenues | $472M | 2.7% | +6% | +6% |
Where each dollar of revenue goes
| Line | Q2 2026 | % of revenue |
|---|---|---|
| Revenue | $17.7B | 100.0% |
| Operating profit | $397M | 2.2% |
| Income tax | $209M | 1.2% |
| Net earnings | $389M | 2.2% |
| Operating cash flow | $952M | 5.4% |
| Free cash flow | $814M | 4.6% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q2 2026 | $17.7B | +66% |
| Q1 2026 | $12.5B | +9% |
| Q4 2025 | $10.6B | -12% |
| Q3 2025 | $11.6B | -7% |
| Q2 2025 | $10.6B | -17% |
| Q1 2025 | $11.5B | -1% |
| Q4 2024 | $12.0B | +6% |
From Plains GP Holdings LP's 10-Q filed Aug 10, 2026 (on EDGAR).
Questions
How does Plains GP Holdings LP make money?
Plains GP Holdings LP (PAGP) made $17.7B of revenue in the second quarter 2026 (Q2 2026), +66% from a year earlier. Product sales revenues brought in $17.2B (97%); Services revenues brought in $472M (3%). Of every dollar of revenue, 2¢ was left as operating profit, 2¢ was left as net earnings.
What is Plains GP Holdings LP's biggest business?
Product sales revenues: $17.2B in the second quarter 2026, 97% of revenue, +69% from a year earlier.
What is Plains GP Holdings LP's profit margin?
Net earnings were $389M, 2.2% of revenue, in the second quarter 2026; the operating margin was 2.2%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.