Q2 2026 AltaGas Ltd Earnings Call Transcript

Jul 30, 2026 / 03:00 PM GMT

Release Date Price: €34.2 (-0.58%)

Transcript

Key Points

Positve

Record financial results in Q2 2026 with normalized EBITDA of $391 million, up 14% year-over-year.
Raised 2026 normalized EBITDA guidance by 4% to a range of $2.0-$2.1 billion and EPS guidance by 6%.
Record LPG exports of 144,000 barrels per day, a 13% increase over Q2 2025.
Strong balance sheet with leverage at 4.4x, below the target range of 4.5-5x.
Utilities segment driving 10% rate-based growth in 2026 with $1.5 billion in approved modernization programs.

Negative

Reef project delayed to before end of Q1 2027 due to weather and marine mammal activity, with capital costs increased by 12% to ~$1.5 billion.
Midstream results benefited from historically high global export spreads, which may not be sustainable.
Higher G&A expenses and lower asset optimization activity at Washington Gas partially offset utility segment gains.
Corporate and other segment results were lower year-over-year due to higher employee incentive costs tied to rising share price.
Increased 2026 capital budget to $1.8 billion, up from $1.7 billion, reflecting higher costs for Reef and new projects.

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

ALA.TO - AltaGas Ltd
Q2 2026 AltaGas Ltd Earnings Call
Jul 30, 2026 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning ladies and gentlemen.

Thank you for standing by and welcome to the Altogaas second quarter 2026 financial results conference call.

My name is John 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 difficulty hearing the conference, please press star, then 0 for the operator assistance at any time.

After the speaker's 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 call over to Aaron Sanson, Vice President, Investor Relations.

Please go ahead, Mr.

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