Altagas Q3 EPS misses estimates, EBITDA declines

AltaGas

30/10/2025 10:09

Overview

Altagas Q3 normalized EPS was $0.04, missing analyst expectations

Normalized EBITDA for Q3 2025 was $268 mln, down from $294 mln in 2024

Company announces positive FIDs on multiple growth projects, including REEF Optimization One

Outlook

AltaGas reiterates 2025 full-year guidance with normalized EBITDA of $1,775 mln to $1,875 mln

AltaGas expects 2025 normalized EPS between $2.10 and $2.30

AltaGas advances REEF Optimization One project, expected in service by 2027

Result Drivers

MIDSTREAM GROWTH - Midstream segment's 13% EBITDA increase driven by higher export volumes and storage performance

UTILITIES DECLINE - Utilities segment EBITDA decline due to absence of pension plan settlement, but strong performance from modernization investments

NEW PROJECTS - Positive FIDs on REEF Optimization One and other projects to expand capacity and infrastructure

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Adjusted EPS
Miss
C$0.04
C$0.05 (7 Analysts)
Q3 Adjusted EBITDA
C$268 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the natural gas utilities peer group is "buy"

Wall Street's median 12-month price target for AltaGas Ltd is C$45.50, about 8.2% above its October 29 closing price of C$41.77

The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 17 three months ago

Press Release: ID:nCNWGRrKka

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)