Q3 2025 Tidewater Midstream and Infrastructure Ltd Earnings Call Transcript

Nov 13, 2025 / 03:00 PM GMT

Release Date Price: €3.48 (-3.33%)

Transcript

Key Points

Positve

Tidewater Midstream and Infrastructure Ltd (TWMIF) successfully closed the acquisition of the Western Pipeline, enhancing their strategic asset portfolio.
The company reported a significant increase in contracted offtakes, covering 100% of forecasted renewable diesel production for the remainder of 2025.
Tidewater Renewables is well-positioned to benefit from the Canadian government's $370 million biofuels production incentive program starting January 2026.
The Prince George refinery throughput increased by 4% from Q2 2025, with normalized levels expected to contribute to improved margins.
The company has optimized its turnaround schedule, extending catalyst life and maximizing production during the biofuels incentive program period.

Negative

Tidewater Renewables reported a net loss of $1 million in Q3 2025, compared to a net income of $13 million in Q2 2025.
The HDRD complex experienced a 2-week unplanned outage in October due to an equipment anomaly, affecting throughput.
The Graham River gas plant remains temporarily curtailed due to record low natural gas prices, impacting overall midstream gas processing capacity.
Consolidated net loss attributable to shareholders increased to $34.1 million in Q3 2025 from $16.3 million in Q2 2025.
Refined product margins were under pressure due to wider wholesale discounts and an oversupply of diesel in Western Canada.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

TWM.TO - Tidewater Midstream and Infrastructure Ltd
Q3 2025 Tidewater Midstream and Infrastructure Ltd Earnings Call
Nov 13, 2025 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon ladies and gentlemen and welcome to the Tidewater Midstream and Infrastructure Limited and Tidewater Renewables Limited 3rd quarter 2025 financial results conference call. At this time all lines are in less only mode. Following the presentation, we will conduct a question-and-answer session. If at any time during this call they require immediate assistance, please press 0 for the operator. This call is being recorded on a Thursday, November 13th of 2025.

I would now like to turn the conference over to Ian Corley, Chief Financial Officer. Please go ahead, sir.

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Unidentified_2

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