![Plains Gp Holdings Lp [PAGP] reports quarterly net loss of $336 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FPAGP.png&w=1200&q=75)
PLAINS GP HOLDINGS LP [PAGP] has reported a net loss NET INCOME of $336 million for quarter ended Dec 31, 2022.
The Company said in a filing before the Securities and Exchange Commission that its total revenue Total revenues for the quarter was $12 billion
Based in HOUSTON, Texas, PLAINS GP HOLDINGS LP operates in the TRANSPORT sector.
In the condensed consolidated statements of operations for the 3 months ended March 31, 2024, compared to the same period in 2023, the following financial performance indicators were observed:
- Total revenues for the current period were reported at $11.995 million, slightly lower than the previous period's $12.341 million.
- Costs and expenses for the current period totaled $11.626 million, decreasing from the previous period's $11.870 million. This includes purchases and related costs, field operating costs, general and administrative expenses, and depreciation and amortization.
- Operating income for the current period stood at $369 million, a decrease from the previous period's $471 million.
- Other income/(expense) showed an improvement, with equity earnings in unconsolidated entities at $95 million compared to $89 million in the previous period.
- Income before tax decreased to $364 million from $526 million in the previous period.
- Net income for the current period was $336 million, lower than the previous period's $443 million.
- Net income attributable to PAGP was $42 million for the current period, down from $69 million in the previous period.
- Basic and diluted net income per Class A share for the current period were $0.21, a decrease from $0.35 in the previous period.
In summary, the company experienced a decline in total revenues, operating income, and net income in the current reporting period compared to the same period in the previous year. Factors such as decreased revenues and increased expenses contributed to the lower financial performance.
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