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Adjusted EBITDA by Segment
Measures earnings before interest, taxes, depreciation, and amortization for each business segment, highlighting profitability and operational efficiency across different parts of the company.Data Infrastructure has gone from fringe to a material growth engine, driving much of the recent EBITDA expansion and aligning with management’s AI-driven demand thesis; Midstream and Utilities provide stable, commodity- and rate-base‑backed tailwinds. Transport’s bumped peak then slide reflects asset sales that temporarily depress contribution and increase volatility. Corporate costs remain a steady drag. Management’s capital‑recycling and partnership moves make the 10%+ FFO/unit target credible, but watch timing risk on the Intel JV and site/power constraints that could slow the data ramp.
Date | Midstream | Corporate | Utilities | Transport | Data Infrastructure |
|---|---|---|---|---|---|
Jun 30, 2026 | $269.00M | -$114.00M | $337.00M | $422.00M | $228.00M |
Mar 31, 2026 | $282.00M | -$109.00M | $335.00M | $386.00M | $229.00M |
Dec 31, 2025 | $276.00M | -$114.00M | $355.00M | $365.00M | $228.00M |
Sep 30, 2025 | $237.00M | -$107.00M | $331.00M | $395.00M | $211.00M |
Jun 30, 2025 | $239.00M | -$108.00M | $318.00M | $408.00M | $181.00M |
Mar 31, 2025 | $264.00M | -$97.00M | $324.00M | $395.00M | $166.00M |
Dec 31, 2024 | $253.00M | -$103.00M | $317.00M | $403.00M | $177.00M |
Sep 30, 2024 | $238.00M | -$113.00M | $312.00M | $417.00M | $151.00M |
Jun 30, 2024 | $227.00M | -$92.00M | $307.00M | $425.00M | $139.00M |
Mar 31, 2024 | $256.00M | -$97.00M | $316.00M | $401.00M | $130.00M |