The following is a summary of the DT Midstream, Inc. (DTM) Q3 2024 Earnings Call Transcript:
Financial Performance:
DT Midstream reported Q3 2024 adjusted EBITDA of $241 million, a slight decrease from the previous quarter.
Raised 2024 adjusted EBITDA guidance to between $950 million to $980 million.
Increased distributable cash flow guidance to $670 million to $700 million, while maintaining committed growth capital expense of $330 million for 2024.
Business Progress:
Announced the final investment decision on LEAP Phase 4 expansion, expected to increase capacity by 200 million cubic feet per day and to be completed by first half of 2026.
Upsized the project connecting to the Mountain Valley Pipeline on Stonewall system, increasing capacity by 100 million cubic feet per day, expected operational by first half of 2026.
Continue to advance carbon capture and sequestration project in Louisiana, with final investment decision expected in first half of 2025.
Opportunities:
DT Midstream is positioned to leverage the growth in natural gas demand, particularly from LNG exports, power and data centers, and industrial onshoring.
Expansion projects underpinned by long-term demand-based contracts with two new customers for LEAP Phase 4 and a large privately held producer for the Stonewall system.
Risks:
Ongoing regulatory approval requirements for carbon capture project may impact project timelines.
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
