DT Midstream rises on Q4 profit beat

DT Midstream

16/02/2024 16:03

** Shares of pipeline operator DT Midstream  DTM.N  up 4%
at $54.55
    ** Co reports Q4 adj profit of $1.24 per share, beating
analysts average estimate of $0.92 per share - LSEG data 
    ** Firm's forecasts 2024 adj core profit of between $930
mln-$980 mln as compared to expectation of $962.03 mln
    ** Co's CEO David Slater, on a post-earnings call, says the
industry is in consolidation mode, with bolt-on opportunities
present for co
     ** Adds that firm will pursue opportunities if viable after
weighing against co's organic growth projects
    ** Recently announced LNG permitting pause to have no
material impact on business in the near term - CEO
    ** Stock has fallen 0.4% so far this year 

 (Reporting by Kabir Dweit)
 ((Kabir.Dweit@thomsonreuters.com;))