Normalized earnings before interest, taxes, depreciation and amortization reached C$389 million for the quarter, a sharp increase from the C$268 million reported during the same period last year. This figure comfortably surpassed the C$335 million mean estimate projected by FactSet analysts. Revenue for the period rose 32% to C$3.43 billion, while the company narrowed its net loss to C$21 million, or C$0.07 per share.
In section Market Quotes
AltaGas Eyes High-End Annual Results After Record Export Volumes
Driven by record liquid petroleum gas exports and the successful integration of its Pipestone II facility, Calgary-based AltaGas reported a significant jump in third-quarter earnings. The energy infrastructure firm now anticipates finishing the fiscal year at the upper limit of its previously announced financial guidance.
Operational success centered on a record 147,176 barrels of liquid petroleum gas exported daily to Asia, a volume supported by 24 specialized carriers. President and Chief Executive Vern Yu noted that the expansion of the Shell-led LNG Canada project provides a favorable outlook for Western Canadian energy production, positioning the company to capture additional supply and export demand. Looking ahead, AltaGas expects its utilities segment to provide roughly half of its annual normalized Ebitda, supplemented by midstream growth and the ongoing development of the Ridley Island export facility, which is slated for completion in early 2025.
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