DT Midstream, Inc. Q1 FY26 Results

Summary

DT Midstream announced strong first quarter 2026 results, with reported net income and Operating Earnings both at $130 million, or $1.27 per diluted share. The company also achieved an Adjusted EBITDA of $308 million for the quarter, marking a 10.0% increase year-over-year. Management expressed satisfaction with the start to the year and highlighted progress on new interstate pipeline growth projects, including approved investments in the Vector Pipeline 2028 expansion and the Millennium Pipeline R2R project. The company reaffirmed its 2026 Adjusted EBITDA guidance and provided a positive early outlook for 2027, indicating confidence in delivering its financial goals.

Key Highlights

1. 1

   DT Midstream reported a net income of $130 million for the first quarter of 2026.

2. 2

   Operating Earnings for Q1 2026 were $130 million, translating to $1.27 per diluted share.

3. 3

   Adjusted EBITDA reached $308 million for the first quarter of 2026, representing a 10.0% increase year-over-year.

4. 4

   The Board of Directors declared a quarterly cash dividend of $0.88 per share of common stock, payable on July 15, 2026.

5. 5

   The company approved investments in the Vector Pipeline 2028 expansion project and the Millennium Pipeline R2R project, advancing new interstate pipeline growth.

6. 6

   DT Midstream successfully completed non-binding open seasons for expansions of Midwestern Gas Transmission and Vector Pipeline, both receiving customer interest exceeding the offered capacity.

7. 7

   The company reaffirmed its 2026 Adjusted EBITDA guidance range of $1,155 million to $1,225 million and provided an early outlook of $1,225 million to $1,295 million for 2027.