DT Midstream Reports Strong Q3 Results

By Bobby Samwell • Tuesday, October 29 10:29 • Permanent Link

DT Midstream, Inc. has reported strong third-quarter 2024 results, with reported net income of $88 million, or $0.90 per diluted share. Operating earnings for the quarter were also $88 million, or $0.90 per diluted share, while adjusted EBITDA stood at $241 million. The company also declared a $0.735 per share dividend on its common stock payable on January 15, 2025.

DT Midstream has made significant progress in advancing new opportunities, including reaching a final investment decision on the phase 4 expansion of the Leap system, upsizing the future interconnect between the Stonewall system and Mountain Valley Pipeline, and achieving an upgrade to investment-grade by Fitch Ratings.

The company's strong performance has led to an increase in its adjusted EBITDA guidance for 2024 to $950 * $980 million. DT Midstream is transitioning towards net zero greenhouse gas emissions by 2050, including a goal of achieving 30% of its carbon emissions reduction by 2030.

As a result of these announcements, the company's shares have moved 1.3% on the market, and are now trading at a price of $88.6. For the full picture, make sure to review DT Midstream's 8-K report.

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