Q2 2024 DT Midstream Inc Earnings Call Transcript
Key Points
- DT Midstream Inc (DTM) reaffirmed its 2024 adjusted EBITDA guidance range and 2025 early outlook range, indicating confidence in its financial performance.
- The company successfully placed its Phase three expansion into service early and on budget, increasing capacity and expanding its Haynesville system.
- DT Midstream Inc (DTM) executed agreements to connect three producers in East Texas, further diversifying supply access.
- The carbon capture and sequestration project in Louisiana is progressing as planned, with positive third-party evaluation results.
- The company announced a new clean fuels gathering project, expected to provide significant tax credit and environmental benefits.
- Gathering volumes were down in both the Haynesville and Northeast regions compared to the prior quarter, impacting overall performance.
- The company experienced lower seasonal revenues from its pipeline joint ventures.
- There was a planned maintenance outage at one of the Haynesville treating plants, affecting gathering segment results.
- The short-term natural gas market remains choppy and sensitive to weather forecasts, creating uncertainty.
- DT Midstream Inc (DTM) is taking a cautious approach to the second half of the year due to the current price environment.
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Good morning, and welcome to DCP Midstream's Second Quarter 2024 earnings conference call. All participants are in a listen only mode. After the speakers' remarks, we'll have a question and answer session to ask a question.
You'll need to press star followed by the number one on your telephone keypad. As a reminder, this conference call is being recorded. I would now like to turn the call over to Todd Morgan, Director of Investor Relations. Thank you. Please go ahead.
Good morning and welcome, everyone. Before we do have started, i would like to remind you to read the Safe Harbor statement on page 2 of the presentation, including reference to forward-looking statements. Our presentation also includes references to non-GAAP financial measures.
Please refer to the reconciliations to GAAP are contained in the appendix. Joining me this morning are David Slater, President and CEO, and Jeff Deuel, Executive Vice President
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