Reports Q4 revenue $12.95B, consensus $14.94B. "2022 represented a positive inflection point for Plains, evidenced by strong execution of our goals and initiatives. This included reaching the lower-end of our leverage target range and increasing returns of capital to equity holders through a combination of increased distributions and share repurchases. Additionally, we achieved record health, safety, and environmental performance by achieving or exceeding 20% reduction targets in our key metrics," stated Willie Chiang, Chairman and CEO of Plains. "Looking to 2023, our Permian Basin assets are well positioned to benefit from continued production growth. In our NGL segment, we continue to evaluate capital efficient debottlenecking opportunities which we expect to improve our long-term fee-based earnings. We remain focused on continuing to generate significant Free Cash Flow, which provides visibility for improving shareholder returns primarily through distribution increases and disciplined accretive investments, all while maintaining balance sheet flexibility."
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on PAA:
- Plains All American Reports Fourth-Quarter and Full-Year 2022 Results; Announces 2023 Guidance
- Plains All American options imply 2.7% move in share price post-earnings
- Plains All American downgraded to Market Perform from Outperform at Bernstein
- Plains All American price target raised to $17 from $15 at Mizuho
- Mohamed El-Erian Says the Stock Market Rally Could Be Short-Lived; Here Are 2 ‘Strong Buy’ Dividend Stocks for Stable Cash Return