DT Midstream recently released its 10-Q report, providing insights into its financial performance for the period. The company, headquartered in Detroit, Michigan, operates in two segments, Pipeline and Gathering, offering integrated natural gas services in the United States. The Pipeline segment includes interstate and intrastate natural gas pipelines, storage systems, and gathering lateral pipelines, while the Gathering segment involves gas gathering systems, catering to natural gas producers, local distribution companies, and other customers.
In the 10-Q report, DT Midstream reported operating revenues of $303 million for the three months ended March 31, 2025, compared to $249 million for the same period in 2024. The net income attributable to DT Midstream was $108 million, with diluted earnings per common share at $1.06 for the first quarter of 2025. In comparison, the net income for the same period in 2024 was $73 million, with diluted earnings per common share at $0.73.
The Pipeline segment contributed $92 million to the net income attributable to DT Midstream, while the Gathering segment contributed $16 million for the three months ended March 31, 2025. The Pipeline segment's operating revenues increased to $169 million, up from $115 million in the same period of 2024, primarily due to activity from the interstate pipelines acquired in the Midwest Pipeline Acquisition. The Gathering segment reported operating revenues of $134 million, slightly higher than the previous year.
DT Midstream's financial report also outlined its capital resources and liquidity. The company's cash and cash equivalents at the end of the period were $83 million, compared to $41 million for the same period in 2024. Net cash and cash equivalents from operating activities increased to $247 million for the first quarter of 2025, primarily due to an increase in operating income after adjustment for non-cash items, a decrease in cash paid for income taxes, partially offset by decreases in net working capital changes and dividends received from equity method investees.
The report also discussed the company's environmental matters and its strategy for sustainable and responsible operations. DT Midstream aims to achieve net zero carbon emissions by 2050 and is focused on providing exceptional service to its customers while pursuing economically attractive opportunities for growth.
As a result of these announcements, the company's shares have moved -1.8% on the market, and are now trading at a price of $96.78. If you want to know more, read the company's complete 10-Q report here.
