Pembina Pipeline Corp. Ordinary Shares (Canada) (PBA) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone. Thank you for joining us and welcome to the Pembina Pipeline Corporation Q4 2025 results digital conference call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star one on your telephone keypad. To withdraw your question, press star one again. I will now hand the call over to Dan Tucanel, Vice President of Capital Markets. Please go ahead. Thank you, Jade. Good morning, everyone. Welcome to Pemina's conference call and webcast to review highlights from the fourth quarter of 2025. On the call today, we have Scott Burrows, President and CEO, and Cameron Goldate, Chief Financial Officer, along with other members of Pemina's leadership team. I would like to remind you that some of the comments made today may be forward-looking in nature and are based on Pemina's current expectations, estimates, judgments, and projections. forward-looking statements we may express or imply today are subject to risks and uncertainties which could cause actual results to differ materially from expectations. Further, some of the information provided refers to non-GAAP measures. To learn more about these forward-looking statements and non-GAAP measures, please see the company's management discussion and analysis, dated February 26, 2026, for the period ended December 31, 2025. as well as the press release Pam and I issued yesterday, which are all available online at pamina.com and on both CDAR Plus and EDGAR. I will now turn things over to Scott. Thanks, Dan. Yesterday, we reported our fourth quarter results, which included earnings of $489 million, adjusted EBITDA of approximately $1.075 billion, and adjusted cash flow from operating activities of $731 million, or $1.26 per share. For the full ye...