DT Midstream, Inc. (DTM) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

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-GAP financial measures. Please refer to the Reconciliation to GAP contained in the appendix. Joining me this morning are David Slater, President and CEO, 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 today's call, I'll touch on our financial results, share details on the latest commercial activity, and provide a status update on our key growth projects that are currently under construction. I'll then close with some commentary on the current market fundamentals before turning it over to Jeff to review our financial performance and outlook. So with that, midway through the year, we're continuing our strong performance, giving us confidence to reaffirm our 2025 adjusted EBITDA guidance range and our 2026 adjusted EBITDA early ELEC range. The second quarter was an active quarter for us commercially, and we are announcing today that we've reached FID on approximately 600 million of new organic growth projects from our capital projects backlog, of which approximately 90% of the investment is within our growing pipeline segment. Unpacking the new investment projects, the first is an expansion of Guardian Pipeline, increasing the capacity of the pipeline by 15%. This expansion is anchored by an investment grade utility customer under a 20-year negotiated rate contract. The next project that we are moving forward with is the first phase of our Interstate Pipeline...