Income StatementBalance SheetCash FlowSegments
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Plains All American Pipeline, L.P. Income Statement

Revenue, expenses, and profitability over time

Plains All American Pipeline, L.P. generated $45.3B in trailing twelve-month revenue, down 0.1% year-over-year. Net income was $1.1B with a 2.53% net margin. Gross margin stands at 8.5% and operating margin at 3.28%. Based on the Q1 2026 filing.

Total Revenue (TTM)$45.3BGross Profit (TTM)$3.8BOperating Income (TTM)$1.5BNet Income (TTM)$1.1B
Latest FilingQ1 2026
Report Date2026-05-08
Market Cap$16.1B
P/E Ratio14.05
ROE8.92%

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Current income tax expense (benefit)$10.0M$7.0M$1.0M$5.0M—$216.0M
Income tax expense$10.0M$7.0M$1.0M$5.0M—$216.0M
Current Income Tax Expense$10.0M$7.0M$1.0M$5.0M—$216.0M
Deferred Income Tax Expense (Benefit)$6.0M$2.0M$3.0M$1.0M$8.0M-$215.0M

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Shipping and Handling Costs$509.0M$300.0M$286.0M$288.0M$281.0M$301.0M
Depreciation and amortization$226.0M$232.0M$235.0M$230.0M$257.0M$243.0M
General and administrative$82.0M$85.0M$82.0M$83.0M$91.0M$81.0M
Total operating expenses$12.1B$11.1B$10.4B$11.1B$10.2B$12.1B

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income from discontinued operations$74.0M$136.0M$70.0M$76.0M$102.0M-$103.0M
Net income$36.0M$443.0M$210.0M$441.0M$342.0M$152.0M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income from equity method investments$154.0M$103.0M$94.0M$96.0M$90.0M$89.0M
Other Charges$19.0M$26.0M$31.0M$14.0M$38.0M$8.0M
Interest expense$112.0M$127.0M$133.0M$135.0M$159.0M$167.0M
Gain on investments in unconsolidated entities, net—$31.0M$0.0———
Other income (expense), net$19.0M$26.0M$31.0M$14.0M$38.0M$8.0M
Gain (Loss) on Sale of Assets and Asset Impairment Charges-$157.0M$13.0M-$42.0M$92.0M—$53.0M

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gross profit$959.0M$960.0M$884.0M$993.0M$993.0M$977.0M
Operating income-$16.0M$356.0M$239.0M$484.0M$355.0M$405.0M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$61.0M$389.0M$231.0M$459.0M$323.0M$335.0M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Deferred taxes$6.0M$2.0M$3.0M$1.0M$8.0M-$215.0M
Diluted——$0.11$0.44——
Basic——$0.11$0.44——
Other income, net (Note 6)$19.0M$26.0M$31.0M$14.0M$38.0M$8.0M

Cost of Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total cost of revenue$11.1B$10.5B$9.8B$10.6B$9.6B$11.5B

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total revenue$12.0B$11.5B$10.6B$11.6B$10.6B$12.5B