Plains All American Pipeline 3Q 2026: Revenue $15.17B, EPS ($0.06) — 10-Q Summary
Plains All American Pipeline (PAA) reported 3Q 2026 revenue of $15.17B, up 31.1% YoY, driven by higher commodity prices and crude oil sales. Net income fell 17.7% to $363M, with EPS at ($0.06). The company completed the sale of its Canadian NGL Business and acquired Silver Creek, a Powder River Basin crude oil business, for $585M. Adjusted EBITDA rose 6% to $711M, supported by acquisitions and higher pipeline volumes.
How this was made
The 30-second read
Why it matters
The earnings miss and impairment are likely to weigh on the stock in the short term, though top‑line growth and recent acquisitions provide a longer‑term upside narrative.
Market read
The filing provides fresh, material earnings data that can affect trading decisions on PAA and related midstream stocks.
What to watch
Capital outlook shows continued investment; the recent acquisitions may drive future earnings upside.
Background
Plains All American Pipeline filed its Q3 2026 10‑Q, reporting strong revenue growth but a loss per share due to impairments and the recent sale of its Canadian NGL business.
Ticker impact
Q3 2026 10‑Q shows revenue $15.17B (+31.1%) but a loss per share of ($0.06) after a $68M impairment and divestiture impacts.
likely pressure as the market prices in the EPS miss and impairment charge
The filing reveals a surprise loss and a sizable impairment, which typically triggers a sell‑off in the short term.
Market effects
Oil & gas pipeline sector may see broader scrutiny as earnings miss highlights exposure to commodity price volatility.
U.S. energy stocks could face short‑term weakness.
Limited to investors with exposure to North American midstream assets.
Counterpoint
The revenue beat and higher pipeline volumes could support a rebound if investors focus on top‑line growth.
Key entities
- CompanyPlains All American Pipeline LP
U.S. midstream energy infrastructure operator.
