Plains All American Pipeline, L.P. (PAA) Earnings History
Profitable29 years of earnings data (1997–2025) · Positive TTM net income
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Plains All American Pipeline, L.P. (PAA) Earnings Overview
As of June 23, 2026, Plains All American Pipeline, L.P. (PAA) reported trailing twelve-month net income of $1.15B, reflecting +127.4% year-over-year growth. The company earned $1.62 per diluted share over the past four quarters, with a net profit margin of 3.2%.
Looking at the long-term picture, PAA's historical earnings data spans multiple years. 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 6.0%, operating margin of 3.2%, and net margin of 3.2%. 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 (1997–2025)
29 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $1.44B | +85.9% | $1.43B | $1.66 | 3.2% | 3.2% |
| 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% |
| 2014 | $1.38B | +1.7% | $1.79B | $2.38 | 3.2% | 4.1% |
| 2013 | $1.36B | +24.4% | $1.73B | $2.80 | 3.2% | 4.1% |
| 2012 | $1.09B | +13.3% | $1.43B | $2.40 | 2.9% | 3.8% |
| 2011 | $966M | +91.3% | $1.30B | $2.44 | 2.8% | 3.8% |
| 2010 | $505M | -12.8% | $767M | $1.20 | 2.0% | 3.0% |
| 2009 | $579M | +32.5% | $779M | $1.66 | 3.1% | 4.2% |
| 2008 | $437M | +19.7% | $594M | $1.32 | 1.5% | 2.0% |
| 2007 | $365M | +28.0% | $518M | $1.26 | 1.8% | 2.5% |
| 2006 | $285M | +30.9% | $355M | $1.44 | 1.3% | 1.6% |
| 2005 | $218M | +67.5% | $276M | $1.36 | 0.7% | 0.9% |
| 2004 | $130M | +118.7% | $180M | $0.95 | 0.6% | 0.9% |
| 2003 | $59M | -9.0% | $98M | $0.50 | 0.5% | 0.8% |
| 2002 | $65M | +47.8% | $95M | $0.67 | 0.8% | 1.1% |
| 2001 | $44M | -43.0% | $76M | $0.56 | 0.6% | 1.1% |
| 2000 | $78M | +175.0% | $69M | $1.10 | 1.2% | 1.0% |
| 1999 | -$103M | -2559.5% | $71M | $-1.63 | -2.2% | 1.5% |
| 1998 | $4M | +96.3% | $6M | $0.07 | 2.4% | 3.1% |
| 1997 | $2M | - | $8M | $0.04 | 0.3% | 1.0% |
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PAA — Frequently Asked Questions
Quick answers to the most common questions about buying PAA stock.
What is PAA earnings per share (EPS)?
PAA trailing twelve-month (TTM) diluted EPS is $1.62, reflecting +127.4% year-over-year growth. The 5-year EPS CAGR is N/A. Complete EPS history from 1997 to 2025 is available in the table on this page.
What is Plains All American Pipeline, L.P.'s net income?
Plains All American Pipeline, L.P. (PAA) trailing twelve-month net income is $1.1B as of 2025. Earnings grew +127.4% year-over-year. Plains All American Pipeline, L.P. has been profitable for 5 consecutive years.
Is PAA profitable?
Yes, PAA is profitable with a TTM net income of $1.1B and a net profit margin of +3.2%. Plains All American Pipeline, L.P. has generated profits for 5 consecutive years.
What is PAA's earnings growth rate?
PAA compound annual EPS growth rates (CAGR): 1-Year: +127.4%, 3-Year: +11.7%, 5-Year: N/A, 10-Year: +8.0%. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 1997 to 2025.
What are PAA's profit margins?
Plains All American Pipeline, L.P. net profit margin is +3.2%, operating margin is +3.2%, and gross margin is +6.0%. Below-average margins reflect competitive or cost pressures. Return on Equity is +11.0%.
Is PAA growing earnings?
Yes, PAA earnings are accelerating — EPS growth of +127.4% exceeds the 5-year CAGR of N/A. TTM net income reached $1.1B. Earnings momentum is strengthening.
What was PAA's best earnings year?
Plains All American Pipeline, L.P.'s highest annual net income on record is $2.2B, achieved in fiscal year 2018. Earnings history on this page spans 1997 to 2025 and includes all annual and quarterly figures.
What were PAA's earnings last quarter?
PAA's most recent reported quarter was Q1 2026. Net income was $152M with diluted EPS of $0.14. For a full breakdown of all quarters, see the quarterly earnings table on this page.