Plains All American Pipeline Falls Short of Q3 2026 Estimates as Revenue Rises 31% to $15.17B

Plains All American Pipeline (PAA) fell short of estimates for the third quarter of 2026. Revenue was $15.17 billion, up 31% from a year earlier, in line with the $15.21 billion estimate, and adjusted EPS was -$0.04 below the $0.41 estimate.

Shares fell 2.2% in premarket trading as of 7:56 a.m. ET, to $24.00 from a $24.53 close.

Q3 2026 scorecard

By our calculation, adjusted EPS was $0.45 below it. The QoQ column compares with the previous quarter's revenue of $17.69 billion and adjusted EPS of $0.41. The YoY column compares with $11.58 billion and $0.39 in the same quarter a year earlier.

Track record

• EPS record. Adjusted EPS beat the estimate in 5 of the last 8 reports, including this one.
• Revenue record. Revenue beat the estimate in 2 of the last 8 reports.
• Revenue trend. Revenue over the last 5 reports, oldest first: $11.58 billion, $10.56 billion, $12.47 billion, $17.69 billion and $15.17 billion.

What to watch

• Next-quarter estimates. Consensus calls for EPS of $0.43 and revenue of $14.74 billion next quarter, based on 6 analysts.
• Revenue growth. Whether revenue keeps growing from a year earlier after this quarter's 31% increase to $15.17 billion.
• Estimate record. Whether Plains All American Pipeline extends a record of beating EPS estimates in 5 of its last 8 reports.
• Related coverage. See our reports on MSG Knickerbockers Corp. Class A, Plains GP, Brookfield Infrastructure Partners and Oklo.

Sources: Results are from Plains All American Pipeline's Nov. 6, 2026 quarterly report. Estimates are consensus figures. The prior-quarter and year-ago comparison figures are from Plains All American Pipeline's earlier quarterly reports. Items labeled by our calculation are our own arithmetic. This article is informational only and is not investment advice.