Canada's AltaGas Q1 adjusted EPS beats estimates, EBITDA hits record

AltaGas

30/04/2026 11:10

Overview

Canada energy infrastructure firm's Q1 adjusted EPS beat analyst expectations

Q1 normalized EBITDA rose to a record C$818 mln, driven by export and utility gains

Company expects 2026 results at top end of guidance, with upside if LPG market stays strong

Outlook

AltaGas expects 2026 normalized EBITDA near the top end of C$1.925 bln–C$2.025 bln guidance

Company sees 2026 normalized EPS near the top end of C$2.20–C$2.45 guidance

AltaGas raises 2026 capital program guidance to C$1.7 bln from C$1.6 bln

Result Drivers

EXPORT VOLUMES AND MARGINS - Higher global LPG export volumes and margins, along with stronger processing and liquids handling margins, drove normalized EBITDA growth

MIDSTREAM EXPANSION - Increased Midstream EBITDA was supported by strong export merchant margins and volumes, contributions from Pipestone II, and higher throughput at Townsend and North Pine facilities

Company press release: ID:nCNWPFBGKa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted EPS
Beat
C$1.33
C$1.24 (7 Analysts)
Q1 Adjusted EBITDA
C$818 mln
Q1 Pretax Profit
C$207 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$51.00, about 0.7% above its April 29 closing price of C$50.64

The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 18 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.)