Canada's Gibson Energy Q1 adjusted EBITDA falls, misses estimates

Gibson Energy

04/05/2026 21:12

Overview

Canada liquids infrastructure firm's Q1 adjusted EBITDA declined and missed analyst expectations

Company posted C$1 mln net loss, mainly due to unrealized hedge losses and restructuring costs

Gibson completed C$400 mln Chauvin acquisition and C$215 mln equity financing in Q1

Outlook

Company expects about C$10 mln in annual savings from restructuring beginning in 2027

Chauvin acquisition expected to deliver mid single-digit accretion to distributable cash flow per share

Company expects dividend payout ratio to remain elevated until Chauvin acquisition cash flow is fully reflected

Result Drivers

INFRASTRUCTURE THROUGHPUT - Higher throughput across major facilities supported Infrastructure adjusted EBITDA, partially offset by temporary demand disruptions from geopolitical events

CRUDE MARKETING VOLATILITY - Marketing adjusted EBITDA rose due to higher differentials and volatility in crude markets, despite challenges from Canadian heavy oil backwardation

HIGHER EXPENSES AND HEDGE LOSSES - Net loss and lower consolidated adjusted EBITDA were mainly due to unrealized losses from financial hedges, restructuring costs, and higher general and administrative expenses

Company press release: ID:nGNX3ZTvJP

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
-C$1 mln
Q1 Adjusted EBITDA
Miss
C$139 mln
C$148.42 mln (11 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the oil & gas refining and marketing peer group is "hold."

Wall Street's median 12-month price target for Gibson Energy Inc is C$29.50, about 1.3% below its May 1 closing price of C$29.90

The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 20 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.)