Plains All American Pipeline Expect 2024 Adjusted EBITDA Of $2.625B - $2.725B; Expect To Generate ~$1.65B Of Adjusted Free Cash Flow
Portfolio Pulse from Benzinga Newsdesk
Plains All American Pipeline (PAA) projects its 2024 Adjusted EBITDA to be between $2.625B and $2.725B, with an expected Adjusted Free Cash Flow of approximately $1.65B. The company plans to increase its annualized common distribution to $1.27 per unit, a 19% rise from 2023. PAA aims to maintain a leverage ratio between 3.25x and 3.75x, indicating a strong balance sheet. The firm also anticipates investing around $375 million in full-year 2024 Investment and Maintenance Capital, net to PAA.
February 09, 2024 | 12:45 pm
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Plains All American Pipeline expects a strong financial performance in 2024, with an Adjusted EBITDA between $2.625B and $2.725B and an Adjusted Free Cash Flow of about $1.65B. The company plans to increase its annual distribution by 19% to $1.27 per unit and maintain a healthy leverage ratio.
The positive outlook for 2024, including a significant increase in Adjusted EBITDA and Free Cash Flow, along with a 19% increase in annual distribution, indicates a strong financial health and operational efficiency. This is likely to be viewed positively by investors, potentially leading to an increase in stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100