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![PLAINS GP HOLDINGS LP [PAGP] reports annual net loss of $1.4 billion](/_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 of $1.4 billion for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $48.7 billion
Based in HOUSTON, Texas, PLAINS GP HOLDINGS LP operates in the TRANSPORT sector.
In the annual financial report for the year ended December 31, 2023, compared to the same period in 2022 and 2021, the following key figures were observed:
REVENUES:
- Total revenues for the period ending December 31, 2023, were $48,712 million, which was a decrease from $57,342 million in 2022 and an increase from $42,078 million in 2021. This indicates a declining trend compared to the previous period.
COSTS AND EXPENSES:
- Costs and expenses for the year ended December 31, 2023, totaled $47,211 million, compared to $56,058 million in 2022 and $41,236 million in 2021. The decrease in operating costs signifies a positive trend in managing expenses.
OPERATING INCOME:
- Operating income for the year ended December 31, 2023, was $1,501 million, up from $1,284 million in 2022 and $842 million in 2021. This reflects an improvement in operational efficiency and profitability.
NET INCOME:
- Net income for the period ended December 31, 2023, stood at $1,425 million, compared to $1,163 million in 2022 and $600 million in 2021. The consistent growth in net income highlights the company's financial stability and potential for future growth.
EARNINGS PER SHARE:
- Basic and diluted net income per Class A share for the year ended December 31, 2023, were both $1.01, showing an increase from $0.86 in 2022 and $0.31 in 2021. This indicates an enhanced performance on a per-share basis and potential value for shareholders.
Overall, the financial results for the year ended December 31, 2023, demonstrate a mixed performance compared to the previous periods, with fluctuations in revenues and expenses but a positive growth trend in operating income and net income. The company has shown resilience and potential for further development in the coming periods.
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