DT Midstream, Inc. announced third quarter 2024 net income of $88 million, or $0.90 per diluted share, with Adjusted EBITDA reaching $241 million. The company's Operating Earnings for the quarter also stood at $88 million, or $0.90 per diluted share.
The company raised its 2024 Adjusted EBITDA guidance to a range of $950 million to $980 million, reflecting strong year-to-date performance. This upward revision signals management's confidence in the company's operational trajectory and financial outlook for the remainder of the year.
In addition to financial results, DT Midstream declared a quarterly dividend of $0.735 per share, payable on January 15, 2025. The company also provided updates on key organic growth projects, including reaching Final Investment Decision (FID) on the LEAP Phase 4 expansion, which will add 200 MMcf/d of capacity by the first half of 2026, and upsizing the Stonewall Mountain Valley Pipeline interconnect project to add 100 MMcf/d of outlet capacity by the first half of 2026.
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