Plains GP Holdings, L.P. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 03, 2023 at 08:30 am EDT
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Plains GP Holdings, L.P. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 12,071 million compared to USD 14,336 million a year ago. Net income was USD 29 million compared to USD 71 million a year ago. Basic earnings per share from continuing operations was USD 0.15 compared to USD 0.36 a year ago.
For the nine months, sales was USD 36,014 million compared to USD 44,390 million a year ago. Net income was USD 146 million compared to USD 124 million a year ago. Basic earnings per share from continuing operations was USD 0.75 compared to USD 0.64 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. 
