Plains All American Pipeline, L.P. reported earnings results for the fourth quarter and full year ended December 31, 2025. For the fourth quarter, the company reported sales was USD 10,565 million compared to USD 12,035 million a year ago. Net income was USD 342 million compared to USD 36 million a year ago. Basic earnings per share from continuing operations was USD 0.26 compared to basic loss per share from continuing operations of USD 0.15 a year ago. Diluted earnings per share from continuing operations was USD 0.26 compared to diluted loss per share from continuing operations of USD 0.15 a year ago. Basic earnings per share was USD 0.41 compared to basic loss per share of USD 0.04 a year ago. Diluted earnings per share was USD 0.41 compared to diluted loss per share of USD 0.04 a year ago.
For the full year, sales was USD 44,262 million compared to USD 48,889 million a year ago. Net income was USD 1,435 million compared to USD 772 million a year ago. Basic earnings per share from continuing operations was USD 1.12 compared to USD 0.4 a year ago. Diluted earnings per share from continuing operations was USD 1.12 compared to USD 0.4 a year ago. Basic earnings per share was USD 1.66 compared to USD 0.73 a year ago. Diluted earnings per share was USD 1.66 compared to USD 0.73 a year ago.
Plains All American Pipeline, L.P. is a midstream service provider in North America. The Company owns a network of pipeline transportation, terminalling, storage and gathering assets in key crude oil and natural gas liquids (NGL) producing basins (including the Permian Basin) and transportation corridors and at major market hubs in the United States and Canada. It has two segments: Crude Oil and Natural Gas Liquids (NGL). Its Crude Oil segment operations generally consist of gathering and transporting crude oil using pipelines, gathering systems, trucks and at times on barges or railcars, in addition to providing terminalling, storage and other facilities-related services utilizing its integrated assets across the United States and Canada. Its NGL segment operations involve natural gas processing and NGL fractionation, storage, transportation and terminalling. NGL segment is involved in gathering, fractionation, storage, and/or terminalling services to third-party customers.
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