Plains GP Holdings, L.P. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 04, 2023 at 08:00 am EDT
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Plains GP Holdings, L.P. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 11,602 million compared to USD 16,359 million a year ago. Net income was USD 48 million compared to USD 31 million a year ago. Basic earnings per share from continuing operations was USD 0.25 compared to USD 0.16 a year ago.
For the six months, sales was USD 23,943 million compared to USD 30,053 million a year ago. Net income was USD 117 million compared to USD 53 million a year ago. Basic earnings per share from continuing operations was USD 0.6 compared to USD 0.27 a year ago.
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. 
