Plains GP Misses Q3 2026 Estimates as Revenue Rises 31% to $15.17B

Plains GP (PAGP) missed estimates for the third quarter of 2026 on both revenue and adjusted EPS. Revenue was $15.17 billion, up 31% from a year earlier, below the $15.23 billion estimate, and adjusted EPS was -$0.22 below the $0.45 estimate.

Shares were unchanged in premarket trading as of 7:38 a.m. ET, to $26.39 from a $26.39 close.

Q3 2026 scorecard

By our calculation, revenue was $60.6 million below the estimate and adjusted EPS was $0.67 below it. The QoQ column compares with the previous quarter's revenue of $17.69 billion and adjusted EPS of $1.97. The YoY column compares with $11.58 billion and $0.31 in the same quarter a year earlier.

Track record

• EPS record. Adjusted EPS beat the estimate in 2 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 $0.45 and revenue of $14.52 billion next quarter, based on 3 analysts.
• Next report. Plains GP is next expected to report on Feb. 5, 2027.
• Revenue growth. Whether revenue keeps growing from a year earlier after this quarter's 31% increase to $15.17 billion.
• Related coverage. See our reports on Brookfield Infrastructure Partners, Oklo, Vistra and Enbridge.

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