Q2 2026 DT Midstream Inc Earnings Call Transcript
Key Points
- DT Midstream Inc (DTM) achieved an all-time record quarterly throughput on its Haynesville system, averaging 2.2 Bcf per day.
- The company reached FID on approximately $300 million of new organic growth projects, including a LEAP pipeline expansion and Viking modernization.
- DT Midstream Inc (DTM) commercialized a new 380 MMcf per day interconnect on NEXUS to supply a natural gas-fired power plant for a data center in Ohio.
- The company reaffirmed its 2026 adjusted EBITDA guidance and 2027 early outlook, reflecting confidence in its full-year plan.
- DT Midstream Inc (DTM) reported a healthy balance sheet with Moody's and Fitch raising leverage downgrade thresholds, indicating strong financial stability.
- Second-quarter adjusted EBITDA of $305 million decreased by $3 million from the prior quarter, driven by seasonally lower revenues from joint venture pipelines.
- Pipeline segment results were $14 million lower than the prior quarter due to seasonal factors and higher revenue on Stonewall.
- Third-quarter 2026 expectations are for lower adjusted EBITDA than Q2, driven by maintenance on gathering networks and lower Northeast volumes from producer timing.
- Northeast gathering volumes are expected to decline in Q3 due to timing of producer activity, impacting near-term performance.
- Growth capital investment is expected to ramp up in the second half of 2026, increasing committed capital to $425 million in 2026 and $560 million in 2027.
Welcome to the DT Midstream second-quarter 2026 earnings call. (Operator Instructions)
I will now turn it over to our speaker today, Todd Lohrmann, Director of Investor Relations. Thank you. Please go ahead.
Good morning, and welcome, everyone. Before we get started, I would like to remind you to read the safe harbor statement on Page 2 of the presentation, including the reference to forward-looking statements.
Our presentation also includes references to non-GAAP financial measures. Please refer to the reconciliations to GAAP contained in the appendix. Joining me this morning are David Slater Executive Chairman and CEO; Chris Zona, President and COO; and Jeff Jewell, Executive Vice President and CFO.
So with that, I'll go ahead and turn the call over to David.
Thanks, Todd, and good morning, everyone, and thank you for joining. During
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