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Plains All American Pipeline, L.P. PAA Q1 2025 earnings

Reported May 9, 2025 · Before market open

Revenue$12.0BMiss by $2.1B
EPS$0.39Miss by $0.05
Revenue estimate$14.1B
EPS estimate$0.44

Next report

Nov 4, 2026 (in 2 months)
Revenue estimate$14.7B
EPS estimate$0.43

Financials

Q1 2025

Income statement

See full
Revenue$11.5B-1.4%
Gross profit$960.0M+33.0%
Operating income$356.0M0.0%
Net income$443.0M+66.5%

Balance sheet

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Cash & equivalents$427.0M+29.0%
Total debt$9.5B+9.0%
Total equity$12.9B-5.8%
Total assets$27.1B-1.1%

Cash flow

See full
Operating cash flow$639.0M+52.5%
CapEx$140.0M-10.8%
Free cash flow$499.0M+90.5%

Valuation & ratios

Valuation

as of 03/31/25
See full
Market cap$14.08B+14.3%
Enterprise value$23.11B+11.9%
P/E14.8×+3.4×
P/S0.3×0.0×

Profitability

See full
Gross margin7.7%+1.1pp
Operating margin1.8%-0.7pp
Net margin1.9%-0.4pp
FCF margin4.7%+0.4pp

Returns & leverage

See full
Return on equity7.2%-0.8pp
Debt / equity0.7×+0.1×
Current ratio1×0.0×

Segments

By segment

See full
Crude Oil$11.4B-1.2%
NGL$41.0M-93.5%

By geography

See full
United States$9.9B-8.7%
Canada$1.1B-15.9%

FAQ

When did Plains All American Pipeline, L.P. report Q1 2025 earnings?
Plains All American Pipeline, L.P. (PAA) reported Q1 2025 earnings on May 9, 2025 before market open.
What were Plains All American Pipeline, L.P.'s Q1 2025 revenue and EPS?
Plains All American Pipeline, L.P. reported revenue of $12.0B and eps of $0.39 for Q1 2025.
Did Plains All American Pipeline, L.P. beat estimates in Q1 2025?
Revenue missed the consensus estimate of $14.1B by $2.1B. EPS missed the consensus estimate of $0.44 by $0.05.
How did Plains All American Pipeline, L.P.'s Q1 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 0.1% from $12.0B a year earlier and eps declined 4.9% from $0.41.
Where can I find Plains All American Pipeline, L.P.'s Q1 2025 SEC filings?
You can read the 8-K earnings release (0001070423-25-000010) and the 10-Q periodic report (0001070423-25-000012) directly on SEC EDGAR. The filing index links above go to sec.gov.