DT Midstream, Inc. has recently released its 10-K report, providing a detailed insight into its business operations and financial performance. The company, together with its subsidiaries, offers integrated natural gas services in the United States. It operates through two segments, Pipeline and Gathering, serving a wide range of customers, including natural gas producers, local distribution companies, electric power generators, industrials, and national marketers.
In the year ended December 31, 2024, DT Midstream reported operating revenues of $981 million, compared to $922 million in 2023 and $920 million in 2022. The net income attributable to DT Midstream stood at $354 million in 2024, $384 million in 2023, and $370 million in 2022. The diluted earnings per common share were $3.60 in 2024, $3.94 in 2023, and $3.81 in 2022.
The Pipeline segment's operating revenues increased by $66 million in 2024, primarily due to new long-term firm service revenue contracts, higher contracting rates and volumes at specific locations, partially offset by lower volumes at certain facilities. The Gathering segment's operating revenues decreased by $7 million in 2024, primarily due to lower volumes and recovery of production-related operating expenses at specific gathering systems.
DT Midstream's financial performance also reflected changes in expenses, with operation and maintenance, depreciation and amortization, taxes other than income, and interest expenses showing variations in the year ended December 31, 2024, compared to the previous year.
Looking ahead, DT Midstream is focused on leveraging its long-term agreements and strategic relationships to pursue economically attractive expansion opportunities. The company aims to capitalize on its current asset footprint to drive future growth, particularly in its Pipeline and Gathering segments.
As a company operating in the natural gas industry, DT Midstream is subject to extensive U.S. federal, state, and local environmental regulations. Compliance costs may increase as the effects of various substances on the environment are studied and governmental regulations are developed and implemented. The market has reacted to these announcements by moving the company's shares -1.6% to a price of $94.24. For the full picture, make sure to review DT Midstream's 10-K report.
