SHARPE
Reported results
- GAAP Net income attributable to PAA was $363 million for the third quarter of 2026.
- GAAP Net cash provided by operating activities was $669 million for the third quarter of 2026.
- GAAP Diluted net income/(loss) per common unit was $(0.06) for the third quarter of 2026.
- Non-GAAP Adjusted EBITDA attributable to PAA was $711 million for the third quarter of 2026.
- Non-GAAP Diluted adjusted net income/(loss) per common unit was $(0.04) for the third quarter of 2026.
- Non-GAAP Adjusted Free Cash Flow was $458 million for the third quarter of 2026.
Guidance
- On track to deliver full-year 2026 Adjusted EBITDA guidance attributable to PAA of $2.880 billion +/- $50 million.
- Crude Oil growth estimated ~$370 million in 2026 versus 2025, or ~16% (includes full year contribution from Cactus III acquisition).
Notes
On May 12, 2026, the company completed the sale of its Canadian NGL Business, which met the criteria for classification as held for sale and for discontinued operations reporting. Additionally, during the third quarter of 2026, the historical Crude Oil and NGL operating segments were reorganized into one consolidated segment, and all segment data for earlier periods was recast.
Price and volatility reaction
The stock moved -2.3% on the print. No front-expiry chain was on file, so there is no straddle expected move.
| Measure | Value | Basis |
|---|---|---|
| Close before release | 26.39 | 2026-11-05 |
| Close after release | 25.78 | 2026-11-06 |
| Realised move | -2.3% | close to close |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-11-06 (8-K, Item 2.02). Read the original filing on sec.gov.