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Gibson Energy Reports 2025 First Quarter Results Driven by Record Infrastructure EBITDA and All-Time High Volumes at Gateway and Edmonton
All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta, May ...
About this update from Gibson Energy Inc.
[{"type":"text","content":"Gibson Energy Reports 2025 First Quarter Results Driven by Record Infrastructure EBITDA and All-Time High Volumes at Gateway and Edmonton\n\n\n\n\n All financial figures are in Canadian dollars unless otherwise noted\n \n\n\n CALGARY, Alberta, May 05, 2025 (GLOBE NEWSWIRE) -- Gibson Energy Inc. (TSX:GEI) (\"Gibson\" or the \"Company\") announced today its financial and operating results for the three months ended March 31, 2025.\n \n\n\n Key Highlights:\n \n\n\n\n All-time high volumes at both the Gateway and Edmonton terminals drove record Infrastructure Adjusted EBITDA\n \n (\n \n\n 1)\n \n of $155 million\n \n\n Realized recurring and non-recurring cost savings of approximately $6 million, increasing DCF per share in the first quarter by 7%, with line of sight to $18 million of total savings, relative to our target of over $25 million\n \n\n Secured a strategic long-term partnership with Baytex Energy Corp. (“Baytex”)\n \n\n Appointed Riley Hicks as Senior Vice President and Chief Financial Officer effective February 4, 2025, and Dave Gosse as Senior Vice President and Chief Operating Officer to become effective May 20, 2025\n \n\n Subsequent to the quarter, completed the Gateway dredging project safely, on time and on budget\n \n\n\n\n “We are off to a solid start to 2025, delivering record quarterly Infrastructure EBITDA,” said Curtis Philippon, President & Chief Executive Officer. “Our cost focus efforts continue to deliver results, and we are seeing great progress on our key capital projects at Gateway. With a revitalized leadership team in place and disciplined execution underway, we are well positioned to deliver a strong finish to the year.”\n \n\n\n Financial Highlights:\n \n\n\n\n Revenue of $2,748 million decreased by $541 million in the first quarter, compared to $3,289 million in the first quarter of 2024, primarily due to the impact of reduced sales volumes and lower commodity prices within the Marketing segment\n \n\n Infrastructure Adjusted EBITDA\n \n (\n \n\n 1)\n \n of $155 million in the first quarter, a $4 million or 2% increase from the first quarter of 2024, primarily due to increased throughput at the Edmonton Terminal and Gateway, and lower operating and other costs, partially offset by lower volume at the Hardisty Terminal, and the disposal of non-core ass...