Q2 2024 AltaGas Ltd Earnings Call Transcript
Key Points
- AltaGas Ltd (ATGFF) delivered normalized EBITDA of $295 million in Q2, up 23% year over year.
- Normalized EPS doubled to $0.14 per share compared to Q2 2023.
- Record export volumes in the midstream segment, with more than 123,000 barrels a day.
- Strong performance in the utilities segment, delivering stable earnings growth despite warmer weather.
- Steady progress on major projects like Reef and Pipestone Two, with positive FID and on-schedule construction.
- Impact of warmer than normal weather in DC and Michigan on utilities segment performance.
- Rail disruptions due to forest fires affecting midstream operations in July.
- Ongoing regulatory challenges, such as the dismissal of the Pipes Three filing in DC.
- Potential risks associated with executing two large projects concurrently (Reef and Pipestone Two).
- Uncertainty surrounding the legal dispute between Trigon and PRPA, which could impact future export plans.
Good morning, ladies and gentlemen. Thank you for standing by, and welcome to the AltaGas Second Quarter 2024 financial results conference call. My name is Chris, and I'll be your operator for today's call, all lines have been placed on mute to prevent any background noise. If you have any difficulties hearing the conference, please press star then zero for operator assistance at any time. After the speakers' remarks, there will be a question and answer session. As a reminder, this conference call is being broadcast live on the Internet and recorded. I would now like to turn the conference over to Aaron Swanson, Vice President, Investor Relations. Please go ahead, Mr. Swanson.
Good morning, everyone. Thank you for joining AltaGas Second Quarter 2024 Results Conference Call. Speaking this morning will be Vern Yu, President and Chief Executive Officer, and James Harbilas, Executive Vice President and Chief Financial Officer.
We're also joined here this morning by Randy tune, President of our
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
