Plains All American Pipeline (NASDAQ: PAA) reported Q1 EPS of $0.41, $0.04 better than the analyst estimate of $0.37. Revenue for the quarter came in at $12.34 billion versus the consensus estimate of $15.35 billion.

Guidance:

• Reaffirming full-year 2023 Adjusted EBITDA guidance attributable to PAA of $2.45 - $2.55 billion, year-end 2023 leverage of +/- 3.5x and common unit distribution coverage of +/- 215%
• Expect to generate approximately $1.6 billion of Free Cash Flow in 2023, underpinning our previously announced capital allocation framework that includes meaningfully increasing returns of capital to equity holders and further absolute debt reduction
• Remain focused on disciplined capital investments, anticipate full-year 2023 Investment and Maintenance Capital of $325 million and $195 million, respectively, net to PAA

For earnings history and earnings-related data on Plains All American Pipeline (PAA) click here.