Plains All American Pipeline LP

Plains All American Pipeline does not have standalone Q3 2026 quarterly results to report in this filing; instead, the midstream giant stepped into the spotlight by disclosing pro forma financials tied to its completed acquisition of EPIC Crude Holdings, LP, the owner and operator of the Cactus III Pipeline. The transaction, finalized in two stages across late October and early November 2025, was accounted for as a business combination, and on a combined pro forma basis for full-year 2025, PAA posted revenues of $44.46 billion, operating income of $1.52 billion, and net income attributable to PAA of $975.00 million, with pro forma earnings of $1.01 per common unit on 704 million weighted average units. The modest step down from $1.12 per unit on a standalone historical basis was driven primarily by $94.00 million in incremental interest expense tied to $1.90 billion in acquisition financing. No synergies or cost savings are reflected in these figures, and no forward-looking guidance was issued, though PAA shares have surged roughly 45% over the past year, trading near 52-week highs as investors weigh the pipeline's expanded footprint.