Equity Profile

PAGP

Plains GP Holdings, L.P.

EnergyOil & Gas Storage & Transportation$5.0B

Aug7Fri

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

Plains GP Holdings, L.P. (PAGP) operates in the energy sector, focusing on oil and gas storage and transportation....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will show how well the company is managing its costs and revenues.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its operations and capture market share in a competitive environment.

N/A

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

PAGP Q2-2026 Earnings Preview

Context

Company Snapshot

Plains GP Holdings, L.P. (PAGP) operates in the energy sector, focusing on oil and gas storage and transportation. The company plays a crucial role in the energy supply chain, providing essential services to producers and consumers alike.

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 Q1-2026, Plains GP Holdings reported an EPS of $0.10, significantly missing expectations of $0.61. The stock reacted negatively, declining 1.86% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautious ahead of the earnings report, especially after recent disappointing results. The focus will be on whether the company can improve its performance this quarter.

Bull Case

If Plains GP Holdings can report better-than-expected earnings and show signs of revenue growth, it could restore investor confidence and drive the stock higher.

Bear Case

Conversely, if the company continues to miss earnings expectations and fails to provide a clear path to recovery, it could lead to further declines in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will EPS exceed $0.10 this quarter?

Given the significant miss last quarter, any improvement in EPS will be closely scrutinized as a sign of recovery.

What are the expectations for revenue growth this quarter?

Revenue growth is critical for demonstrating the company's ability to expand and compete effectively in the market.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for a rebound in EPS and revenue growth, given the recent volatility in energy prices.

Supporting Evidence

Options are pricing a 3.62% move, which is higher than the historical average of 1.98%.

The company has a history of surprising investors, as seen in the previous quarter's positive EPS surprise despite a larger miss.

The energy sector has shown signs of recovery, which could positively impact Plains GP Holdings.

Key Risk

If the company reports an EPS above $0.10, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether Plains GP Holdings can turn around its recent performance or if it will continue to struggle.

Bull Confirmed If

Reporting an EPS above $0.10 and showing positive revenue growth would confirm the bull case.

Bear Confirmed If

An EPS below $0.10 and stagnant or declining revenue would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±3.62%

Historical Avg

±2.0%

Pricing rich

The options market is pricing in a move of about 3.62%, suggesting that traders expect some volatility around the earnings announcement.

Options are pricing ±3.6% while PAGP has averaged ±2.0% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.2%

30d HV

24.6%

Calls (71K)P/C Ratio: 11.82Puts (237K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter miss + options pricing rich setup in Energy

n=30

Fade rate: 17 of 29 (59%)

This setup has occurred 30 times across Energy in the last 2 years. 17 of 29 faded and 12 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 3.5%, with a raw directional average of +0.1% (roughly flat historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If the company beats expectations, history suggests a potential average move of +2.04%, confirming a positive outlook.

In-Line / Cautious

If results are in line but cautious commentary is provided, the stock may see muted movement as investors digest the news.

Miss

A miss could lead to a decline, with history suggesting an average move of -1.95% in such scenarios.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on operational efficiency improvements.
2Insights into market demand for oil and gas transportation services.
3Management's outlook on future revenue growth.
4Details on cost management strategies.
5Responses to questions about recent market volatility.

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More Earnings This Week

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Company Snapshot

Plains GP Holdings, L.P. (PAGP) operates in the energy sector, focusing on oil and gas storage and transportation....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will show how well the company is managing its costs and revenues.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its operations and capture market share in a competitive environment.

N/A

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

PAGP Q2-2026 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 Q1-2026, Plains GP Holdings reported an EPS of $0.10, significantly missing expectations of $0.61. The stock reacted negatively, declining 1.86% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautious ahead of the earnings report, especially after recent disappointing results. The focus will be on whether the company can improve its performance this quarter.

Bull Case

If Plains GP Holdings can report better-than-expected earnings and show signs of revenue growth, it could restore investor confidence and drive the stock higher.

Bear Case

Conversely, if the company continues to miss earnings expectations and fails to provide a clear path to recovery, it could lead to further declines in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will EPS exceed $0.10 this quarter?

Given the significant miss last quarter, any improvement in EPS will be closely scrutinized as a sign of recovery.

What are the expectations for revenue growth this quarter?

Revenue growth is critical for demonstrating the company's ability to expand and compete effectively in the market.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for a rebound in EPS and revenue growth, given the recent volatility in energy prices.

Supporting Evidence

Options are pricing a 3.62% move, which is higher than the historical average of 1.98%.

The company has a history of surprising investors, as seen in the previous quarter's positive EPS surprise despite a larger miss.

The energy sector has shown signs of recovery, which could positively impact Plains GP Holdings.

Key Risk

If the company reports an EPS above $0.10, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether Plains GP Holdings can turn around its recent performance or if it will continue to struggle.

Bull Confirmed If

Reporting an EPS above $0.10 and showing positive revenue growth would confirm the bull case.

Bear Confirmed If

An EPS below $0.10 and stagnant or declining revenue would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±3.62%

Historical Avg

±2.0%

Pricing rich

The options market is pricing in a move of about 3.62%, suggesting that traders expect some volatility around the earnings announcement.

Options are pricing ±3.6% while PAGP has averaged ±2.0% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.2%

30d HV

24.6%

Calls (71K)P/C Ratio: 11.82Puts (237K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter miss + options pricing rich setup in Energy

n=30

Fade rate: 17 of 29 (59%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If the company beats expectations, history suggests a potential average move of +2.04%, confirming a positive outlook.

In-Line / Cautious

If results are in line but cautious commentary is provided, the stock may see muted movement as investors digest the news.

Miss

A miss could lead to a decline, with history suggesting an average move of -1.95% in such scenarios.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on operational efficiency improvements.
2Insights into market demand for oil and gas transportation services.
3Management's outlook on future revenue growth.
4Details on cost management strategies.
5Responses to questions about recent market volatility.