The following is a summary of the DT Midstream, Inc. (DTM) Q1 2024 Earnings Call Transcript:

Financial Performance:

• In Q1 2024, DT Midstream recorded an adjusted EBITDA of $245 million, showing a $6 million growth from the previous quarter.

• Despite expectations of a temporary dip in gathering volumes and adjusted EBITDA due to planned maintenance, the company foresees a steady rise in Q4 contributed by new projects and a favorable market situation.

• DT Midstream has maintained their Q1 dividend at $0.735 per share, showcasing their intent to grow the dividend by 5% to 7% per annum aligned with long-term adjusted EBITDA growth.

Business Progress:

• The company is advancing on several projects, including expansions and adjustments to accommodate the expected demand growth in the data centre and AI market.

• Initial volumes have begun flowing on their Ohio Utica System, with a successful new interconnect completed between their Haynesville system and the Gillis Access project.

• DT Midstream is progressing well on a carbon capture and sequestration project in Louisiana, completing a pivotal Class V test well in Q1.

• The firm has expressed confidence in meeting increased demand and achieving returns on projects, showcasing a positive outlook for both 2024 and 2025, with specific emphasis on the growth in the Ohio Utica area.

More details: DT Midstream IR

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