Plains GP Holdings LP

Q2 FY2026 EarningsQ2 FY26 results presented a significant beat on top-line revenue ($17.69B vs. $12.30B consensus) and a substantial EPS beat ($1.97 vs. $0.47 expected), primarily driven by a $1.64B gain from the divestiture of the Canadian NGL business. While continuing operations reported a GAAP net loss of $74M due to one-time restructuring taxes, Segment Adjusted EBITDA rose 19% YoY to $694M. Management utilized divestiture proceeds to reduce debt by ~$1.85B, significantly strengthening the balance sheet.