Plains GP Holdings, L.P. Class A Shares (NASDAQ:PAGP) Q2 2024 Earnings Conference Call August 2, 2024 10:00 AM ET
Company Participants
Blake Fernandez - Vice President, Investment Relations
Willie Chiang - Chairman and CEO
Al Swanson - Executive Vice President and CFO
Jeremy Goebel - Chief Commercial Officer
Chris Chandler - Chief Operating Officer
Conference Call Participants
Tristan Richardson - Scotiabank
Michael Blum - Wells Fargo
Jeremy Tonet - JPMorgan Securities
Manav Gupta - UBS
Keith Stanley - Wolfe Research
Spiro Dounis - Citi
Neel Mitra - Bank of America
AJ O'Donnell - TPH
Sunil Sibal - Seaport Global
Neal Dingmann - Truist Securities
John Mackay - Goldman
Theresa Chen - Barclays
Operator
Good day and thank you for standing by. Welcome to the 2024 Second Quarter Plains All American Pipeline Earnings Call. At this time, all participants are on listen-only mode. After the speaker’s presentation, there will be a question-and-answer session. [Operator Instructions]
Please be advised that today’s conference is being recorded. I’d like to hand the conference over to your first speaker today, Blake Fernandez, VP of Investment Relations. Please go ahead.
Blake Fernandez
Thank you, Marvin. Good morning. And welcome to Plains All American second quarter 2024 earnings call. Today’s slide presentation is posted on the Investor Relations website under the News and Events section at plains.com. An audio replay will also be available following today’s call.
Important disclosures regarding forward-looking statements and non-GAAP financial measures are provided on Slide 2. An overview of today’s call is provided on Slide 3. A condensed consolidating balance sheet for PAGP and other reference materials are in the appendix.
Today’s call will be hosted by our Chairman and CEO, Willie Chiang; Executive Vice President and CFO, Al Swanson; and other members of our management team.
With that, I will now turn the call over to Willie.
Willie Chiang
Thank you, Blake. Good morning, everyone, and thank you for joining us. Today, we reported second quarter adjusted EBITDA attributable to PAA of $674 million. This exceeded our expectation, and it highlights our focus on execution and the ability of our team and asset base to respond to the ever-changing market dynamics.
As a result of our year-to-date performance, bolt-on M&A contributions, and momentum as we enter the second half of the year, we’re raising the midpoint of our full year 2024 adjusted EBITDA guidance by $75 million to a new range of 2.725 billion to $2.775 billion.