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Plains All American's Q2 adjusted EBITDA soars 55%, beats estimates

Plains All American Pipeline LP on Aug. 6 reported second-quarter adjusted EBITDA of $784.0 million, an increase from $506.0 million in the prior-year period.

The S&P Global Market Intelligence consensus estimate of adjusted EBITDA was $610.4 million.

Implied distributable cash flow available to common unit holders was $528.0 million, up from $268.0 million in the year-earlier quarter. Net income attributable to the partnership stood at $446.0 million, an increase from $100.0 million in the year-ago period.

Plains GP Holdings LP separately reported net income attributable to the general partner of $66 million for the quarter, an increase from $7 million in the second quarter a year earlier.

Plains owns and operates midstream energy infrastructure and provides logistics services for crude oil, NGLs and natural gas.