AltaGas Ltd. ( (ATGFF) ) has released its Q1 earnings. Here is a breakdown of the information AltaGas Ltd. presented to its investors.
AltaGas Ltd. is a leading North American infrastructure company that operates in the energy sector, focusing on connecting customers and markets to reliable energy sources through its diverse Utilities and Midstream businesses.
In the first quarter of 2025, AltaGas Ltd. reported strong financial results, with a slight increase in normalized earnings per share (EPS) and a robust performance in its Utilities segment. The company reiterated its 2025 guidance and expressed confidence in its long-term growth strategy.
Key financial highlights include a normalized EPS of $1.15 and a normalized EBITDA of $689 million, reflecting a 4% increase from the previous year. The Utilities segment showed significant growth, with a 15% increase in normalized EBITDA, driven by strong retail performance and strategic investments. However, the Midstream segment experienced a decline in EBITDA due to lower export margins and the absence of favorable one-time items from the previous year.
AltaGas achieved record global export volumes of liquified petroleum gases to Asia, demonstrating its operational excellence and strategic advantage in connecting Canadian energy to global markets. The company also made progress on several infrastructure projects, including the Ridley Island Energy Export Facility and the Pipestone II deep cut facility, which are on track to meet their scheduled in-service dates.
Looking ahead, AltaGas remains committed to its strategic priorities of de-risking its business and optimizing assets. The company aims to deliver steady returns and long-term value for stakeholders, supported by a diversified business mix and a focus on connecting Western Canadian energy supply to premium demand markets in Asia.