Plains All American to Report Q2 Earnings: Key Factors to Watch

Plains All American Pipeline, L.P. PAA is set to report second-quarter 2026 results on Aug. 7, before the market opens. The firm reported a negative earnings surprise of 4.88% in the last reported quarter.

Let us discuss the factors that are likely to be reflected in the upcoming quarterly results.

Q2 Expectations for PAA

The Zacks Consensus Estimate for earnings is pegged at 40 cents per share, implying 11.11% year-over-year growth.

The consensus estimate for revenues is pinned at $14.87 billion, indicating an increase of 39.74% from the year-ago reported figure.

Factors Likely to Have Impacted PAA’s Q2 Earnings

Plains All American Pipeline's second-quarter earnings are expected to have benefited from its transition to a pure-play crude oil midstream company, which is likely to have strengthened earnings stability and support EBITDA growth. The completion of the sale of its Canadian NGL business marks PAA's transformation into a pure-play crude oil midstream company.

PAA's ongoing efforts to improve operational efficiency and reduce costs are expected to have supported its second-quarter performance. Synergies from the Cactus III acquisition, along with the company's continued focus on improving operational efficiency, are expected to have provided a tailwind to PAA's second-quarter 2026 results.

The firm’s second-quarter earnings are likely to have benefited from strong fee-based contracts. Higher pipeline volumes, increased regulated transportation rates and better utilization of its pipeline network are expected to have supported PAA's crude oil business in the second quarter.

However, the partial-quarter contribution from the Canadian NGL business following its divestiture and management's assumption of flat Permian production may have some adverse impact on second-quarter earnings.

What Our Quantitative Model Predicts for PAA

Our proven model does not predict an earnings beat for Plains All American Pipeline this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, that is not the case here, as you will see below.

PAA’s Earnings ESP: The firm has an Earnings ESP of 0.00% at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

PAA’s Zacks Rank: Currently, Plains All American Pipeline carries a Zacks Rank #3. You can see the complete list of today's Zacks #1 Rank stocks here.

Stocks to Consider

Investors may consider the following players from the same sector, as these have the right combination of elements to post an earnings beat this reporting cycle.

Western Midstream Partners WES is scheduled to report second-quarter 2026 results on Aug. 5 and is likely to have registered an earnings beat. It has an Earnings ESP of +0.33% and a Zacks Rank #2 at present.

The Zacks Consensus Estimate for second-quarter sales is pinned at $1.13 billion, which implies a year-over-year increase of 19.96%. The Zacks Consensus Estimate for second-quarter earnings is pegged at 90 cents per share, which implies a year-over-year increase of 3.45%.

Calumet, Inc. CLMT is scheduled to report second-quarter results on Aug. 7 and is likely to have registered an earnings beat. It has an Earnings ESP of +169.57% and a Zacks Rank #2 at present.

The Zacks Consensus Estimate for second-quarter sales is pinned at $1.07 billion, which implies a year-over-year increase of 4.09%. The Zacks Consensus Estimate for second-quarter earnings is pegged at a loss of 23 cents per share, which implies a year-over-year increase of 86.47%.

National Energy Services Reunited NESR is scheduled to report second-quarter results on Aug. 10 and is likely to have registered an earnings beat. It has an Earnings ESP of +7.80% and a Zacks Rank #2 at present.

The Zacks Consensus Estimate for second-quarter sales is pinned at $458.42 million, which implies a year-over-year increase of 40.03%. The Zacks Consensus Estimate for second-quarter earnings is pegged at 35 cents per share, which implies a year-over-year increase of 66.67%.

 

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