PLAINS ALL AMERICAN PIPELINE LPPAAEarnings & Financial Report
Plains is a master limited partnership engaged in pipeline transport, marketing, and storage of liquefied petroleum gas and petroleum in the United States and Canada. Plains owns interests in 18,370 miles (29,560 km) of pipelines, storage capacity for about 75 million barrels of crude oil, 28 million barrels of NGLs, 68 billion cubic feet of natural gas, and 5 natural gas processing plants. The company is headquartered in the Allen Center in Downtown Houston, Texas. Plains is a publicly trade...
PAA Q3 2025 Key Financial Metrics
Revenue
$11.6B
Gross Profit
$993.0M
Operating Profit
$484.0M
Net Profit
$441.0M
Gross Margin
8.6%
Operating Margin
4.2%
Net Margin
3.8%
YoY Growth
-9.1%
Financial Flow
PLAINS ALL AMERICAN PIPELINE LP Q3 2025 Financial Summary
PLAINS ALL AMERICAN PIPELINE LP reported revenue of $11.6B for Q3 2025, with a net profit of $441.0M (3.8% margin). Cost of goods sold was $10.6B, operating expenses totaled $509.0M.
Key Financial Metrics
| Total Revenue | $11.6B |
|---|---|
| Net Profit | $441.0M |
| Gross Margin | 8.6% |
| Operating Margin | 4.2% |
| Report Period | Q3 2025 |
PLAINS ALL AMERICAN PIPELINE LP Annual Revenue by Year
PLAINS ALL AMERICAN PIPELINE LP annual revenue history includes year-by-year totals (for example, 2024 revenue was $50.1B).
| Year | Annual Revenue |
|---|---|
| 2024 | $50.1B |
| 2023 | $48.7B |
| 2022 | $57.3B |
Income Statement
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $12.70B | $11.99B | $12.93B | $12.74B | $12.40B | $12.01B | $10.64B | $11.58B |
| YoY Growth | -2.0% | -2.8% | 11.5% | 5.6% | -2.3% | 0.1% | -17.7% | -9.1% |
Balance Sheet
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $27.36B | $27.36B | $27.45B | $27.16B | $26.56B | $27.06B | $27.16B | $28.10B |
| Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Cash Flow
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $1.01B | $419.0M | $653.0M | $691.0M | $727.0M | $639.0M | $694.0M | $817.0M |
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