Q4 2025 AltaGas Ltd Earnings Call Transcript
Key Points
- AltaGas Ltd (ATGFF) delivered normalized EBITDA close to the top of its guidance range, exceeding $1.86 billion for 2025.
- Earnings per share came in at $2.23, which was in the upper half of the guidance range.
- The company achieved a 29% total shareholder return in 2025 and a five-year TSR CAGR of 22%, outperforming peers.
- Pipestone 2 was completed on time and on budget, operating close to full capacity, strengthening the midstream value chain.
- AltaGas Ltd (ATGFF) signed a new five-year agreement with the union at RPI, supporting increased vessel loading and higher throughput.
- AltaGas Ltd (ATGFF) is facing a public disagreement with the Metlakatla First Nation regarding the Trigon terminal.
- The company experienced a 28-day labor disruption at RPI, impacting operations.
- There is uncertainty in the market due to geopolitical activities, affecting commodity price stability.
- The forward curve for global exports is highly backwardated, presenting challenges in pricing strategy.
- AltaGas Ltd (ATGFF) faces regulatory challenges and legal uncertainties in various jurisdictions, impacting utility growth.
Sylvie and I will be your conference operator today. (Operator instructions)
After the speaker's remarks, there will be a question-and-answer session. As a reminder, note that this conference call is being broadcast live on the internet and recorded. I would now like to turn the conference call over to Aaron Swanson, Vice President of Investor Relations. Please go ahead, Mr. Swanson.
Good morning. Thank you for joining AltaGas's fourth-quarter 2025 results conference call. This call is being webcast, and we encourage following along with the supporting slides that can be found on our website.
Speakers this morning will be Vern Yu, President and Chief Executive Officer, and Sean Brown, executive Vice President and Chief Financial Officer. We're also joined by Randy Toh, President of Midstream, Blue Jenkins, President of utilities, and John Morrison, senior Vice President of Corporate Development and Investor Relations.
We will refer to a forward-looking information on
| 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
