Revenue: As of FY2025 Q2, the actual value is USD 10.64 B, missing the estimate of USD 12.86 B.EPS: As of FY2025 Q2, the actual value is USD 0.21.EBIT: As of FY2025 Q2, the actual value is USD 231 M.<h3>Crude Oil Segment</h3><ul><li>Revenues: $10,622 million for Q2 2025, a decrease of $2,113 million (17%) from Q2 2024. For the first half of 2025, revenues were $22,061 million, down $2,256 million (9%) from the same period in 2024.</li><li>Purchases and Related Costs: $9,742 million for Q2 2025, a decrease of $2,078 million (18%) from Q2 2024. For the first half of 2025, costs were $20,231 million, down $2,253 million (10%) from the same period in 2024.</li><li>Field Operating Costs: $279 million for Q2 2025, an increase of $7 million (3%) from Q2 2024. For the first half of 2025, costs were $571 million, up $33 million (6%) from the same period in 2024.</li><li>Segment Adjusted EBITDA: $580 million for Q2 2025, a slight increase of $4 million (1%) from Q2 2024. For the first half of 2025, EBITDA was $1,140 million, up $10 million (1%) from the same period in 2024.</li></ul><h3>NGL Segment</h3><ul><li>Revenues: $26 million for Q2 2025, an increase of $1 million (4%) from Q2 2024. For the first half of 2025, revenues were $67 million, down $19 million (22%) from the same period in 2024.</li><li>Purchases and Related Costs: $22 million for Q2 2025, an increase of $1 million (5%) from Q2 2024. For the first half of 2025, costs were $55 million, down $11 million (17%) from the same period in 2024.</li><li>Field Operating Costs: $7 million for Q2 2025, a decrease of $1 million (13%) from Q2 2024. For the first half of 2025, costs were $14 million, down $1 million (7%) from the same period in 2024.</li><li>Segment Adjusted EBITDA: -$10 million for Q2 2025, compared to -$11 million for Q2 2024. For the first half of 2025, EBITDA was -$15 million, compared to -$9 million for the same period in 2024.</li></ul><h3>Outlook and Strategy</h3><ul><li>Core Business Focus: Plains All American Pipeline, L.P. is focusing on its core midstream crude oil operations by divesting its Canadian NGL Business, which is expected to close in the first quarter of 2026. The company will retain its NGL assets in the United States and all crude oil assets in Canada.</li><li>Non-Core Business: The company is divesting its Canadian NGL Business to reduce exposure to commodity price fluctuations and seasonality, aligning with its strategic objective to focus on core operations.</li></ul>

Plains All American Pipeline | 10-Q: FY2025 Q2 Revenue Misses Estimate at USD 10.64 B