Plains All American Pipeline, L.P. (PAA) Income Statement Analysis

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Complete financial analysis of Plains All American Pipeline, L.P. (PAA) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Plains All American Pipeline, L.P., a leading company in the Oil & Gas Midstream industry within the Energy sector.

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Plains All American Pipeline, L.P. (PAA)

Industry: Oil & Gas Midstream

Sector: Energy

Website: https://www.plainsallamerican.com

About Plains All American Pipeline, L.P.

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates in two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and at times on barges or railcars. This segment provides terminalling, storage, and other facilities-related services, as well as merchant activities. As of December 31, 2021, this segment owned and leased 18,300 miles of active crude oil transportation pipelines and gathering systems, as well as an additional 110 miles of pipelines that supports crude oil storage and terminalling facilities; 74 million barrels of commercial crude oil storage capacity; 38 million barrels of active, above-ground tank capacity; four marine facilities; a condensate processing facility; seven crude oil rail terminals and 2,100 crude oil railcars; and 640 trucks and 1,275 trailers. The Natural Gas Liquids segment engages in the natural gas processing, NGL fractionation, storage, transportation, and terminalling activities. As of December 31, 2021, this segment owned and operated four natural gas processing plants; nine fractionation plants; 28 million barrels of NGL storage capacity; approximately 1,620 miles of active NGL transportation pipelines, as well as an additional 55 miles of pipeline that supports NGL storage facilities; 16 NGL rail terminals and approximately 3,900 NGL rail cars; and approximately 220 trailers. The company was founded in 1981 and is headquartered in Houston, Texas. Plains All American Pipeline, L.P. operates as a subsidiary of Plains GP Holdings, L.P.

Metric	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997
Revenue	48.71B	57.34B	42.04B	23.29B	33.67B	34.06B	26.22B	20.18B	23.15B	43.46B	42.25B	37.80B	34.28B	25.89B	18.52B	30.06B	20.39B	22.44B	31.18B	20.98B	12.59B	8.38B	6.87B	6.64B	4.70B	176.40M	752.52M
Cost of Revenue	45.96B	55.46B	40.31B	22.16B	31.36B	31.58B	24.79B	18.91B	21.61B	41.35B	40.16B	36.03B	32.43B	24.61B	17.29B	29.10B	19.53B	21.86B	30.72B	20.64B	12.37B	8.21B	6.72B	6.51B	4.59B	168.90M	740.04M
Gross Profit	2.76B	1.89B	1.74B	1.13B	2.31B	2.48B	1.43B	1.27B	1.54B	2.12B	2.09B	1.77B	1.84B	1.28B	1.23B	965.00M	862.00M	589.00M	462.30M	331.43M	217.41M	174.29M	147.25M	134.68M	110.30M	7.50M	12.48M
Gross Profit Ratio	5.66%	3.29%	4.13%	4.85%	6.87%	7.28%	5.45%	6.31%	6.65%	4.87%	4.94%	4.67%	5.37%	4.96%	6.62%	3.21%	4.23%	2.62%	1.48%	1.58%	1.73%	2.08%	2.14%	2.03%	2.35%	4.25%	1.66%
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
General & Administrative	350.00M	325.00M	292.00M	271.00M	297.00M	316.00M	276.00M	279.00M	278.00M	325.00M	359.00M	342.00M	294.00M	260.00M	211.00M	160.00M	164.00M	133.90M	103.20M	82.75M	73.03M	45.66M	46.59M	40.82M	22.20M	0.00	0.00
Selling & Marketing	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	46.00M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SG&A	350.00M	325.00M	292.00M	271.00M	297.00M	316.00M	276.00M	279.00M	278.00M	325.00M	359.00M	342.00M	294.00M	260.00M	211.00M	160.00M	164.00M	133.90M	103.20M	82.75M	73.03M	45.66M	46.59M	40.82M	22.20M	800.00K	3.53M
Other Expenses	896.00M	-219.00M	19.00M	39.00M	24.00M	-7.00M	-31.00M	33.00M	-7.00M	-2.00M	1.00M	6.00M	249.00M	256.00M	236.00M	211.00M	180.00M	100.40M	83.50M	68.66M	46.17M	34.07M	24.31M	24.52M	17.30M	2.00M	4.69M
Operating Expenses	1.25B	325.00M	292.00M	271.00M	297.00M	316.00M	276.00M	279.00M	278.00M	325.00M	359.00M	342.00M	543.00M	516.00M	447.00M	371.00M	344.00M	234.30M	186.70M	151.41M	119.21M	79.73M	70.89M	65.34M	39.50M	2.00M	4.69M
Cost & Expenses	47.20B	55.78B	40.60B	22.43B	31.65B	31.89B	25.07B	19.19B	21.89B	41.67B	40.52B	36.37B	32.98B	25.13B	17.74B	29.47B	19.88B	22.09B	30.90B	20.80B	12.49B	8.29B	6.79B	6.57B	4.63B	170.90M	744.74M
Interest Income	0.00	405.00M	425.00M	436.00M	425.00M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest Expense	386.00M	405.00M	425.00M	436.00M	425.00M	431.00M	510.00M	467.00M	432.00M	340.00M	303.00M	288.00M	253.00M	248.00M	224.00M	196.00M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation & Amortization	1.05B	965.00M	774.00M	653.00M	601.00M	520.00M	623.00M	494.00M	432.00M	392.00M	375.00M	482.00M	249.00M	256.00M	236.00M	211.00M	181.00M	100.40M	83.50M	67.24M	46.82M	34.07M	24.31M	24.52M	17.30M	1.20M	1.17M
EBITDA	2.41B	2.53B	2.23B	-1.51B	2.63B	2.69B	2.01B	1.70B	1.81B	2.29B	2.17B	1.95B	1.54B	1.02B	1.04B	853.00M	699.00M	465.10M	359.10M	247.05M	144.40M	128.63M	100.66M	93.86M	87.10M	6.70M	8.95M
EBITDA Ratio	4.94%	3.04%	4.84%	18.36%	5.27%	7.43%	5.38%	6.05%	6.21%	4.36%	4.24%	3.89%	4.55%	3.96%	5.56%	2.68%	3.43%	2.03%	1.15%	1.19%	1.15%	1.53%	1.52%	0.79%	5.11%	3.80%	1.19%
Operating Income	1.51B	780.00M	1.26B	3.62B	1.17B	2.28B	1.15B	994.00M	1.26B	1.79B	1.73B	1.43B	1.30B	767.00M	779.00M	594.00M	518.00M	354.70M	275.60M	180.02M	98.20M	94.56M	76.35M	69.34M	70.80M	5.50M	7.79M
Operating Income Ratio	3.10%	1.36%	2.99%	15.55%	3.48%	6.69%	4.40%	4.93%	5.45%	4.12%	4.09%	3.77%	3.79%	2.96%	4.21%	1.98%	2.54%	1.58%	0.88%	0.86%	0.78%	1.13%	1.11%	1.04%	1.51%	3.12%	1.03%
Total Other Income/Expenses	113.00M	125.00M	-130.00M	-224.00M	258.00M	137.00M	-251.00M	-239.00M	-256.00M	-242.00M	-248.00M	-244.00M	-259.00M	-254.00M	-193.00M	-149.00M	-137.00M	-75.60M	-57.80M	-46.36M	-38.76B	-29.27B	-4.00M	41.23M	-152.40M	0.00	-4.38M
Income Before Tax	1.62B	1.42B	721.00M	-2.60B	2.25B	2.41B	902.00M	755.00M	1.01B	1.56B	1.49B	1.18B	1.04B	513.00M	586.00M	445.00M	381.00M	279.10M	217.80M	1.94M	59.45B	65.29B	72.35M	110.56M	-81.60M	0.00	3.41M
Income Before Tax Ratio	3.33%	2.47%	1.71%	-11.16%	6.67%	7.09%	3.44%	3.74%	4.35%	3.58%	3.53%	3.12%	3.03%	1.98%	3.16%	1.48%	1.87%	1.24%	0.70%	0.01%	472.19%	778.75%	1.05%	1.66%	-1.74%	0.00%	0.45%
Income Tax Expense	121.00M	189.00M	73.00M	-19.00M	66.00M	198.00M	44.00M	25.00M	100.00M	171.00M	99.00M	54.00M	45.00M	-1.00M	6.00M	8.00M	16.00M	300.00K	58.80M	50.02M	38.76M	-29.24B	32.17M	-8.16M	174.10M	1.30M	1.27M
Net Income	1.23B	1.04B	593.00M	-2.58B	2.17B	2.22B	856.00M	726.00M	903.00M	1.38B	1.36B	1.09B	966.00M	505.00M	579.00M	437.00M	365.00M	285.10M	217.80M	130.01M	59.45M	65.29M	44.18M	77.50M	-103.30M	4.20M	2.14M
Net Income Ratio	2.53%	1.81%	1.41%	-11.08%	6.45%	6.51%	3.26%	3.60%	3.90%	3.18%	3.22%	2.89%	2.82%	1.95%	3.13%	1.45%	1.79%	1.27%	0.70%	0.62%	0.47%	0.78%	0.64%	1.17%	-2.20%	2.38%	0.28%
EPS	1.40	1.19	0.55	-3.54	2.71	2.77	0.96	0.43	0.78	2.39	2.82	2.41	2.46	1.21	1.67	1.33	1.27	1.46	1.39	0.95	0.51	0.67	0.56	1.10	-1.63	0.07	0.06
EPS Diluted	1.40	1.19	0.55	-3.54	2.65	2.77	0.95	0.43	0.77	2.38	2.80	2.40	2.44	1.20	1.66	1.32	1.26	1.44	1.36	0.95	0.50	0.67	0.56	1.10	-1.63	0.07	0.06
Weighted Avg Shares Out	699.00M	701.00M	716.00M	728.00M	727.00M	799.00M	717.00M	464.00M	394.00M	367.00M	341.00M	325.00M	297.00M	274.00M	260.00M	240.00M	226.00M	162.00M	138.60M	126.60M	106.00M	91.00M	75.06M	68.77M	63.27M	60.00M	34.01M
Weighted Avg Shares Out (Dil)	699.00M	701.00M	716.00M	728.00M	800.00M	799.00M	718.00M	466.00M	396.00M	369.00M	343.00M	328.00M	299.00M	276.00M	262.00M	242.00M	228.00M	164.00M	141.00M	126.60M	106.00M	91.00M	75.06M	68.77M	63.27M	60.00M	34.01M

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