Plains All American Pipeline, L.P. (PAA) Earnings History
Annual and quarterly earnings data from 1997 to 2024
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PAA EPS Growth (CAGR)
Compound annual growth rate of diluted earnings per share
CAGR (Compound Annual Growth Rate) shows the annualized growth rate of EPS over the specified period. A higher CAGR indicates stronger earnings momentum.
PAA Profitability Analysis
Margin trends over time
| Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| 2024 | 3.4% | 2.4% | 1.5% |
| 2023 | 5.7% | 3.1% | 2.5% |
| 2022 | 3.3% | 2.3% | 1.8% |
| 2021 | 4.1% | 2.0% | 1.4% |
| 2020 | 4.9% | -10.2% | -11.1% |
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Plains All American Pipeline, L.P. (PAA) Earnings Overview
As of May 8, 2026, Plains All American Pipeline, L.P. (PAA) reported trailing twelve-month net income of $1.44B, reflecting -47.9% year-over-year growth. The company earned $2.03 per diluted share over the past four quarters, with a net profit margin of 1.5%.
Looking at the long-term picture, PAA's 5-year EPS compound annual growth rate (CAGR) stands at -22.7%, signaling declining earnings. The company achieved its highest annual net income of $2.22B in fiscal 2018.
Plains All American Pipeline, L.P. maintains positive profitability with a gross margin of 3.4%, operating margin of 2.4%, and net margin of 1.5%. The company continues to generate positive earnings from operations. View revenue history →
Compared to peers including EPD ($5.80B net income, 11.1% margin), ET ($5.55B net income, 5.9% margin), MPLX ($4.71B net income, 41.6% margin), PAA has room to improve margins relative to the peer group. Compare PAA vs EPD →
PAA Earnings vs Peers
Earnings metrics vs comparable public companies
PAA Historical Earnings Data (1997–2024)
28 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $772M | -37.2% | $1.18B | $0.73 | 1.5% | 2.4% |
| 2023 | $1.23B | +18.6% | $1.51B | $1.40 | 2.5% | 3.1% |
| 2022 | $1.04B | +74.9% | $1.29B | $1.19 | 1.8% | 2.3% |
| 2021 | $593M | +122.9% | $851M | $0.55 | 1.4% | 2.0% |
| 2020 | -$2.59B | -219.3% | -$2.38B | $-3.83 | -11.1% | -10.2% |
| 2019 | $2.17B | -2.0% | $1.99B | $2.65 | 6.4% | 5.9% |
| 2018 | $2.22B | +158.9% | $2.28B | $2.77 | 6.5% | 6.7% |
| 2017 | $856M | +17.9% | $1.15B | $0.95 | 3.3% | 4.4% |
| 2016 | $726M | -19.6% | $994M | $0.43 | 3.6% | 4.9% |
| 2015 | $903M | -34.8% | $1.26B | $0.77 | 3.9% | 5.5% |
Full PAA Stock Analysis
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Start ComparisonPAA — Frequently Asked Questions
Quick answers to the most common questions about buying PAA stock.
Is PAA growing earnings?
PAA EPS fell to $2.03, with earnings declining -47.9%. This contrasts with the 5-year CAGR of -22.7%. TTM net income dropped to $1.4B.
What are PAA's profit margins?
Plains All American Pipeline, L.P. net margin is +1.5%, with operating margin at +2.4%. Below-average margins reflect competitive or cost pressures.
How consistent are PAA's earnings?
PAA earnings data spans 1997-2024. The declining earnings trend is -47.9% YoY. Historical data enables comparison across business cycles.