DT Midstream, Inc. (DTM) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Before we get started, I would like to remind you to read the Safe Harbor Statement on page two of the presentation, including the reference to forward-looking statements. Our presentation also includes references to non-GAAP financial measures. Please refer to the Reconciliations to GAAP contained in the appendix. Joining me this morning are David Slater, President and CEO, and Jeff Jewell, Executive Vice President and CFO. 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 initiatives. 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, we had another strong quarter financially in our year to date performance is enabling us to increase the midpoint of our 2025 adjusted EBITDA guidance range to 1.13 billion. An 18% increase from the prior year adjusted EBITDA guidance. We are also reaffirming our 2026 adjusted EBITDA early outlook range. The third quarter was another active quarter for us commercially. and the team continues to advance incremental organic opportunities that support our future growth. We are announcing today that we've reached FID on a larger G3 Plus expansion on Guardian Pipeline. This upsize expansion increases the total capacity of Guardian by approximately 537 million cubic feet per day, which is a 40% increase in the total capacity of the pipeline. and the overall project is anchored by five investment grade utilities under 20 year negotiated rate contracts. This investment is supported by strong fundamentals...