Plains GP Holdings shared its earnings for the third quarter, showing adjusted EBITDA of $711 million.

Nov 6, 2026, 11:03 AM ETResultsRead the original at Benzinga

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Plains reported $711 million in third-quarter adjusted EBITDA and announced a 10-year gathering deal for 270,000 Permian acres. Its $1.5 billion notes add debt, but replacing preferred shares is expected to add about $60 million in yearly cash for distribution.

PAGP · Plains GP Holdings

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The added gathering work brings Plains more business from Permian producers. Silver Spur also connects producer sites to Cushing through Plains' existing network. The note sale adds borrowing, but replacing preferred shares is expected to simplify financing and increase yearly cash available. The call gives no earlier-quarter comparison, so the reported result alone does not show how much performance changed.

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