Quarterly ResultJul 31, 2026, 06:07 AM
Pembina Q2 Adj. EBITDA $1.06B; Sanctions $3B+ Growth Projects
AI Summary
Pembina Pipeline Corporation announced strong financial and operating results for the second quarter of 2026, with adjusted EBITDA increasing by 5% and earnings by 23% year-over-year. The company also sanctioned two significant growth projects, the Greenlight Electricity Centre ($4.6 billion gross) and the Heartland Extraction Plant ($570 million net), and announced participation in a West Coast oil pipeline project. These developments demonstrate tangible execution of its 3Cs Strategy and provide visibility to targeted growth through 2030. Pembina reiterated its 2026 adjusted EBITDA guidance of $4.35 billion to $4.55 billion and declared a Q3 2026 dividend of $0.735 per share.
Key Highlights
- Sanctioned Greenlight Electricity Centre, a $4.6 billion (gross) gas-fired power facility.
- Sanctioned Heartland Extraction Plant, a $570 million (net) liquids extraction project.
- Announced participation in a proposed West Coast Oil Pipeline project.
- Reported Q2 2026 adjusted EBITDA of $1,064 million, up 5% year-over-year.
- Reported Q2 2026 earnings of $512 million, a 23% increase from prior year.
- Q2 2026 adjusted cash flow from operating activities was $778 million ($1.34 per share).
- Declared a Q3 2026 common share cash dividend of $0.735 per share.
- RFS IV project, adding 55,000 bpd fractionation capacity, placed into service.
Price Impact
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