财务数据和关键指标变化 - 公司报告第一季度调整后EBITDA为7.18亿美元,符合预期 [9] - 公司维持2024年调整后EBITDA指引为26.25亿美元至27.25亿美元 [17] - 公司预计2024年将产生15.5亿美元的调整后自由现金流,其中11.5亿美元将用于普通合伙单位和优先股分配 [19] 各条业务线数据和关键指标变化 - 公司预计2024年Permian地区原油产量将增加20万桶/日至30万桶/日,增长主要集中在下半年 [17] - NGL业务方面,2024年套期保值价差约为0.65美元/加仑 [18] 各个市场数据和关键指标变化 - 公司收购了Saddlehorn管道公司10%的股权和Mid-Con码头资产,预计将带来与加权平均资本成本300-500个基点的无杠杆回报 [15] - 公司延长了Cactus I、Cactus II、Basin和Sunrise等管道的合同期限,平均合同期限约为5年,至2028年 [10][11] - 公司预计Cactus I管道2025年9月起的新合同费率将在1.25美元/桶至1.50美元/桶之间 [11] 公司战略和发展方向及行业竞争 - 公司的战略保持一致,围绕资本纪律、自由现金流生成、资本回报和财务灵活性 [8] - 公司通过合同延期和新签,增强了Permian长输管道组合的可见性和确定性 [14] - 公司预计2026年Crude业务EBITDA将与2024年指引基本持平 [13] - 公司认为加拿大资产长期来看是积极的,TMX管道投产后可能带来更多管道利用机会 [122][123][124] 管理层对经营环境和未来前景的评论 - 管理层对2024年业务前景保持谨慎乐观,有信心实现全年指引 [32] - 管理层认为Permian地区未来几年产量增长200-300万桶/日是合理的 [17][48] - 管理层认为加拿大WCS价差短期可能有波动,但长期来看是积极的,有利于加拿大资源开发 [122][124] 问答环节重要的提问和回答 问题1 **Michael Blum 提问** 为什么不提高2024年指引?是否有机会超过每年0.15美元的分配增长目标? [31][32] **Willie Chiang 回答** 公司保持谨慎乐观,目前维持原有指引区间,但有信心能够实现。分配增长目标可能会超过,但需要进一步观察业务表现 [32][33] 问题2 **Spiro Dounis 提问** 2026年Crude业务EBITDA预计持平的依据是什么?是否考虑了潜在的并购和自由现金流利用? [46][47][48][49][50] **Willie Chiang 回答** 2026年预测是基于当前业务状况的正常情况,不包括大规模新投资。具体情况会随着时间推移而更清晰,公司将继续努力提升业绩 [48][49][50] 问题3 **Naomi Marfatia 提问** 5年合同期限是否为公司未来发展提供了更大灵活性,特别是出口业务方面? [86][87][88][89] **Willie Chiang 和 Jeremy Goebel 回答** 合同期限的安排有利于公司灵活管理,满足客户的生产和出口需求。公司将继续与长期客户保持良好合作关系 [87][88][89]

1Q24 Earnings Call May 3, 2024 Forward-Looking Statements & Non-GAAP Financial Measures Disclosure  This presentation contains forward-looking statements, including, in particular, statements Investor Contacts about the performance, plans, strategies and objectives for future operations of Plains All American Pipeline, L.P. (“PAA”) and Plains GP Holdings, L.P. (“PAGP”). These forward-looking statements are based on PAA’s current views with respect to future events, based on what we Blake Fernandez believe ...

Exhibit 99.1 Plains All American Reports First-Quarter 2024 Results Provides Update on Permian Long-Haul Contracting & Announces Bolt-on Acquisitions Houston, TX – May 3, 2024 – Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) today reported first-quarter 2024 results and reaffirmed full-year 2024 Adjusted EBITDA guidance. Plains also provided updates on Permian long-haul contracting and announced two bolt-on acquisitions. First-Quarter Results • Reported Net income att ...

文章核心观点 - 公司是一家规模较大的管道运输和储存公司,主要业务集中在原油和天然气液体领域 [1] - 公司近三年的股价表现远超同行和行业指数,但估值水平仍然合理 [2][3][6] - 公司进入了资本支出较低的周期,有利于降低财务风险,提高自由现金流,为未来股息增长奠定基础 [9][10][11][12][13] - 公司已经大幅降低了负债水平,信用评级也有所提升,为未来股息增长创造有利条件 [12][13] - 公司未来几年有望继续提高股息,预计2026年股息收益率可达9%左右 [14][15][16][17] 根据目录分类总结 公司概况 - 公司是一家规模较大的管道运输和储存公司,主要业务集中在原油和天然气液体领域 [1] - 公司近三年的股价表现远超同行和行业指数 [2][3] 估值分析 - 公司估值水平仍然合理,没有出现过度膨胀 [6] - 公司之前经历了疫情期间的大幅下跌,导致近三年表现出色,但这主要是恢复性的 [4][5] 未来发展 - 公司进入了资本支出较低的周期,有利于降低财务风险,提高自由现金流 [9][10][11] - 公司已经大幅降低了负债水平,信用评级也有所提升 [12][13] - 公司未来几年有望继续提高股息,预计2026年股息收益率可达9%左右 [14][15][16][17] - 公司有足够的自由现金流可用于进一步的并购和有机增长 [16][17]

The latest trading session saw Plains All American Pipeline (PAA) ending at $18.56, denoting a +1.48% adjustment from its last day's close. This move outpaced the S&P 500's daily gain of 1.11%. Meanwhile, the Dow experienced a rise of 0.8%, and the technology-dominated Nasdaq saw an increase of 1.24%. Heading into today, shares of the oil and gas transportation and storage company had gained 8.68% over the past month, lagging the Oils-Energy sector's gain of 10.33% and outpacing the S&P 500's gain of 0.48% ...

HOUSTON, April 04, 2024 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (NASDAQ:PAA) and Plains GP Holdings (NASDAQ:PAGP) today announced their quarterly distributions with respect to the first quarter of 2024 and also announced timing of first quarter 2024 earnings. First Quarter Distribution Declaration PAA and PAGP announced the following quarterly cash distributions, each of which will be payable on May 15, 2024 to holders of the respective securities at the close of business on May 1, 2024: PAA ...

Plains All American Pipeline (PAA) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future. Shares of this oil and gas transportation and storage company have returned +4.6% over the past month versus the Zacks S&P 500 composite's +3.6% change. The Zacks Oil and Gas - Production Pipeline - MLB industry, to which Plains All American belongs, has gained 6.9% over this period ...

Plains All American Pipeline (PAA) ended the recent trading session at $17.28, demonstrating a +0.64% swing from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.89%. Meanwhile, the Dow experienced a rise of 1.03%, and the technology-dominated Nasdaq saw an increase of 1.25%. The the stock of oil and gas transportation and storage company has risen by 5.79% in the past month, leading the Oils-Energy sector's gain of 5.25% and the S&P 500's gain of 3.56%. Analysts and investo ...

Plains All American Pipeline (PAA) closed the latest trading day at $17.17, indicating a +0.59% change from the previous session's end. The stock outpaced the S&P 500's daily gain of 0.57%. Elsewhere, the Dow gained 0.83%, while the tech-heavy Nasdaq added 0.39%. The oil and gas transportation and storage company's stock has climbed by 5.83% in the past month, exceeding the Oils-Energy sector's gain of 4.48% and the S&P 500's gain of 2.97%. The upcoming earnings release of Plains All American Pipeline will ...

Plains All American Pipeline (PAA) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock. Over the past month, shares of this oil and gas transportation and storage company have returned +6%, compared to the Zacks S&P 500 composite's +5.2% change. During this period, the Zacks Oil and Gas - Production Pipeline - MLB industry, which Plains All American falls in, has gained 5.2%. The ke ...