Plains targets $400M-$450M 2026 growth capex while adding 75,000 bpd Cactus III capacity (NASDAQ:PAA)
Plains All American (PAA) Q2 2026 earnings call highlights: EBITDA guidance, higher growth capex, Cactus III expansion and Permian outlookâread now.
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Plains All American (PAA) Q2 2026 earnings call highlights: EBITDA guidance, higher growth capex, Cactus III expansion and Permian outlookâread now.
Plains targets $400M-$450M 2026 growth capex while adding 75,000 bpd Cactus III capacity (NASDAQ:PAA) | Seeking Alpha
Earnings Call Insights: Plains All American Pipeline (PAA) Q2 2026
Management View
"This morning, we reported second quarter adjusted EBITDA attributable to Plains of $738 million, which puts us on track to deliver our full year EBITDA guidance of $2.88 billion, plus or minus $75 million
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Quick Insights
Why did Plains All American Pipeline maintain 2026 EBITDA guidance despite higher Permian output forecasts?
Management modeled stronger year-end momentum from higher Permian volumes, seeing benefits set up for 2027 rather than raising 2026 guidance due to volatile macro conditions and a focus on execution rather than immediate upside.
How does the Canadian NGL business sale impact Plains All American Pipelineâs leverage and balance sheet?
The NGL divestiture reduced leverage from 4.1x to 3.3x and contributed approximately $2.9 billion of debt reduction, providing significant balance sheet improvement.
Is Plains All American Pipelineâs increased 2026 growth capital spending sustainable into 2027 and beyond?
Management expects 2027 capital spending to be similar to 2026 or slightly higher, with the trend moving above the historical $300-$400 million range.
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