Plains GP Holdings, L.P. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 03, 2022 at 04:43 pm EDT
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Plains GP Holdings, L.P. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 16,359 million compared to USD 9,930 million a year ago. Net income was USD 31 million compared to net loss of USD 69 million a year ago. Basic earnings per share from continuing operations was USD 0.16 compared to basic loss per share from continuing operations of USD 0.35 a year ago.
For the six months, sales was USD 30,053 million compared to USD 18,313 million a year ago. Net income was USD 53 million compared to USD 1 million a year ago. Basic earnings per share from continuing operations was USD 0.27.
Plains GP Holdings, L.P. is a limited partnership. The Company owns and operates critical midstream infrastructure systems that connect various producing regions to key demand centers and export terminals. The Company operates through two segments: Crude Oil and Natural Gas Liquids (NGL). The 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 related services utilizing its integrated assets across the United States and Canada. The NGL segment operations involve natural gas processing and NGL fractionation, storage, transportation and terminalling. The NGL segment is engaged in providing gathering, fractionation, storage, and/or terminalling services to third-party customers for a fee, extracting NGL mix from the gas stream processed at its Empress straddle plant facility as well as acquiring NGL mix.
PLAINS GP HOLDINGS, L.P. 
