Midstream operator confirms $738 million Q2 adjusted EBITDA, reaffirming $2.88 billion full-year guidance range.
Plains All American Pipeline announced plans to increase 2026 growth capital expenditures to between $400 million and $450 million. The company also revealed an expansion of its Cactus III pipeline system, adding 75,000 barrels per day of capacity.
Second-quarter adjusted EBITDA attributable to Plains reached $738 million, aligning with the company’s full-year guidance of $2.88 billion, plus or minus $75 million. The guidance reaffirmation follows a period of stable midstream demand and operational execution.
Management did not disclose immediate market reactions during the earnings call, focusing instead on long-term infrastructure investments and volume growth.