Canada's AltaGas beats Q4 adjusted EPS expectations, reaffirms 2026 guidance

AltaGas

06/03/2026 11:10

Overview

Canada energy infrastructure firm's Q4 normalized EBITDA rose

Adjusted EPS for Q4 beat analyst expectations

Company's growth driven by strong LPG export volumes and improved utilities performance

Outlook

AltaGas reaffirms 2026 normalized EBITDA guidance of C$1.925 bln to C$2.025 bln

Company expects 2026 normalized EPS between C$2.20 and C$2.45

AltaGas maintains disciplined 2026 capital program of approximately C$1.6 bln

Result Drivers

LPG EXPORTS - AltaGas achieved record LPG export volumes to Asia, contributing to midstream growth

UTILITIES PERFORMANCE - Improved Utilities performance driven by higher rate base, asset optimization, and favorable weather

SAFETY IMPROVEMENTS - Utilities segment reported best safety results on record, reflecting operational discipline

Company press release: ID:nCNWg6DWDa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Adjusted EPS
Beat
C$0.77
C$0.76 (8 Analysts)
Q4 EPS
C$0.67
Q4 Adjusted EBITDA
C$564 mln
Q4 Pretax Profit
C$310 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 1 "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$48.00, about 0.7% above its March 5 closing price of C$47.67

The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 19 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)