DT Midstream, Inc. announced record financial results for the full year 2024, with Adjusted EBITDA reaching $969 million, surpassing its increased guidance. For the fourth quarter of 2024, the company reported net income of $73 million, or $0.73 per diluted share, and Operating Earnings of $94 million, or $0.94 per diluted share, exceeding analyst expectations.
The company raised its 2025 Adjusted EBITDA guidance to a range of $1.095 billion to $1.155 billion, representing an 18% increase from its original 2024 guidance. An early outlook for 2026 Adjusted EBITDA was also provided, set at $1.155 billion to $1.225 billion, with the midpoint indicating a 6% increase over the 2025 midpoint.
DT Midstream's Board of Directors declared a quarterly dividend of $0.82 per share for Q1 2025, marking a 12% increase from the prior quarter. The company also highlighted operational progress, including the LEAP Phase 3 expansion being placed in service early and on budget in Q2 2024, and construction commencing on the Midwestern Gas Transmission Power Plant Lateral for AES Indiana's Petersburg Generating Station, expected in service in Q1 2026. The Clean Fuels Gathering project, initiated in Q2 2024, is also progressing.
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