Equity Profile

PAGP

Plains GP Holdings, L.P.

EnergyOil & Gas Storage & Transportation$4.8B

May8Fri

Post-Earnings Recap

ReportedQ1-2026Pre-Market7:30 AM EDT

Plains GP Holdings Misses on EPS, Stock Down 0.89%

Metric	Actual	Expected	Surprise
EPS	$0.10	$0.67	-83.74%
Revenue	N/A	$12.0B	N/A

management commentary, guidance changes, and full analysis available with Pro.

Plains GP Holdings Misses on EPS, Stock Down 0.89%

Key Numbers

Metric	Actual	Expected	Surprise
EPS	$0.10	$0.67	-83.74%
Revenue	N/A	$12.0B	N/A

Management Commentary

Tone: Unknown

No transcript is on record, and the analysis is based on numerical results only.

What It Means

Plains GP Holdings reported disappointing earnings, significantly missing EPS expectations. The stock reacted negatively, declining by 0.89%. Investors may be concerned about the company's performance given the substantial EPS miss and lack of revenue data.

Company Snapshot

Plains GP Holdings L P A (PAGP) operates in the energy sector, focusing on oil and gas storage and transportation. As a key player in the energy infrastructure space, it plays a crucial role in ensuring the efficient movement and storage of hydrocarbons across North America.

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a critical measure of profitability, and investors will look for signs of improvement after recent misses.

0.67

Revenue

Revenue reflects the company's ability to generate sales, which is vital for assessing overall business health.

12.0B

Wall Street expectations, options signals, track record, and call prep available with Pro.

Original Pre-Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

25%

Avg EPS Surprise

-38.13%

Avg Stock Reaction

-1.98%

Last Quarter Recap

In Q4 2025, PAGP reported an EPS of $0.17, significantly missing the estimate of $0.55. The stock reacted negatively, dropping 2.27% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts expect PAGP to report better results this quarter, with a consensus EPS of $0.67 and revenue of $12.0B. However, the company's recent earnings history raises concerns about its ability to meet these expectations.

Bull Case

If PAGP can demonstrate improved operational efficiency and cost management, it may exceed EPS expectations and show solid revenue growth, leading to a positive market reaction.

Bear Case

Conversely, if the company continues to struggle with profitability and revenue generation, it could miss expectations again, resulting in further stock declines.

Key Metrics to Watch

Earnings Per Share (EPS)

0.67

EPS is a critical measure of profitability, and investors will look for signs of improvement after recent misses.

Revenue

12.0B

Revenue reflects the company's ability to generate sales, which is vital for assessing overall business health.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will PAGP's EPS exceed the consensus estimate of $0.67?

A beat on EPS would signal improved profitability and could boost investor confidence after recent disappointments.

What are the revenue expectations for this quarter, given the consensus of $12.0B?

Revenue performance is crucial for assessing the company's overall health and ability to sustain operations.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for operational improvements that could lead to better-than-expected results this quarter.

Supporting Evidence

Recent trends in oil and gas demand suggest a rebound that could positively impact revenue.

The options market indicates heightened volatility, suggesting that traders are anticipating significant news.

PAGP's historical performance shows that it can rebound after a series of misses.

Key Risk

If the company reports an EPS above $0.70, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's results will be pivotal in determining whether PAGP can recover from its recent earnings misses and regain investor trust.

Bull Confirmed If

An EPS of $0.75 or higher would confirm the bull case, indicating strong operational performance.

Bear Confirmed If

An EPS below $0.50 would confirm the bear case, suggesting ongoing struggles with profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±3.12%

Historical Avg

±2.0%

Pricing rich

The options market is pricing in a potential move of about 3.12%, indicating that traders expect some volatility around the earnings report.

Options are pricing ±3.1% while PAGP has averaged ±2.0% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

21.7%

Calls (69K)P/C Ratio: 0.04Puts (43K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If PAGP beats expectations, history suggests a potential average move of +1.06%, confirming a positive turnaround narrative.

In-Line / Cautious

An in-line report may lead to a muted reaction, as investors await further commentary on future guidance.

Miss

If the company misses expectations, history suggests an average decline of -1.97%, which could further erode investor confidence.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on operational efficiency improvements.
2Insights into revenue drivers for the upcoming quarter.
3Management's outlook on market conditions and demand for oil and gas.
4Details on cost management strategies and their impact on profitability.
5Any commentary on potential capital expenditures or investments.

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Company Snapshot

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a critical measure of profitability, and investors will look for signs of improvement after recent misses.

0.67

Revenue

Revenue reflects the company's ability to generate sales, which is vital for assessing overall business health.

12.0B

Wall Street expectations, options signals, track record, and call prep available with Pro.

Original Pre-Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

25%

Avg EPS Surprise

-38.13%

Avg Stock Reaction

-1.98%

Last Quarter Recap

In Q4 2025, PAGP reported an EPS of $0.17, significantly missing the estimate of $0.55. The stock reacted negatively, dropping 2.27% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

If PAGP can demonstrate improved operational efficiency and cost management, it may exceed EPS expectations and show solid revenue growth, leading to a positive market reaction.

Bear Case

Conversely, if the company continues to struggle with profitability and revenue generation, it could miss expectations again, resulting in further stock declines.

Key Metrics to Watch

Earnings Per Share (EPS)

0.67

EPS is a critical measure of profitability, and investors will look for signs of improvement after recent misses.

Revenue

12.0B

Revenue reflects the company's ability to generate sales, which is vital for assessing overall business health.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will PAGP's EPS exceed the consensus estimate of $0.67?

A beat on EPS would signal improved profitability and could boost investor confidence after recent disappointments.

What are the revenue expectations for this quarter, given the consensus of $12.0B?

Revenue performance is crucial for assessing the company's overall health and ability to sustain operations.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for operational improvements that could lead to better-than-expected results this quarter.

Supporting Evidence

Recent trends in oil and gas demand suggest a rebound that could positively impact revenue.

The options market indicates heightened volatility, suggesting that traders are anticipating significant news.

PAGP's historical performance shows that it can rebound after a series of misses.

Key Risk

If the company reports an EPS above $0.70, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's results will be pivotal in determining whether PAGP can recover from its recent earnings misses and regain investor trust.

Bull Confirmed If

An EPS of $0.75 or higher would confirm the bull case, indicating strong operational performance.

Bear Confirmed If

An EPS below $0.50 would confirm the bear case, suggesting ongoing struggles with profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±3.12%

Historical Avg

±2.0%

Pricing rich

The options market is pricing in a potential move of about 3.12%, indicating that traders expect some volatility around the earnings report.

Options are pricing ±3.1% while PAGP has averaged ±2.0% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

21.7%

Calls (69K)P/C Ratio: 0.04Puts (43K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If PAGP beats expectations, history suggests a potential average move of +1.06%, confirming a positive turnaround narrative.

In-Line / Cautious

An in-line report may lead to a muted reaction, as investors await further commentary on future guidance.

Miss

If the company misses expectations, history suggests an average decline of -1.97%, which could further erode investor confidence.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on operational efficiency improvements.
2Insights into revenue drivers for the upcoming quarter.
3Management's outlook on market conditions and demand for oil and gas.
4Details on cost management strategies and their impact on profitability.
5Any commentary on potential capital expenditures or investments.