Financial Performance - DT Midstream reported net income of $108 million, or $1.06 per diluted share for Q1 2025, with Adjusted EBITDA of $280 million[1][2] - Net Income Attributable to DT Midstream for Q1 2025 was $108 million, compared to $73 million in Q4 2024, reflecting a 47.95% increase[23] - Adjusted EBITDA for Q1 2025 reached $280 million, up from $235 million in Q4 2024, representing a 19.15% growth[23] - The Pipeline Segment's Adjusted EBITDA was $197 million for Q1 2025, compared to $156 million in Q4 2024, indicating a 26.28% increase[24] - The Gathering Segment reported an Adjusted EBITDA of $83 million for Q1 2025, slightly up from $79 million in Q4 2024, a 5.06% increase[25] - Distributable Cash Flow for Q1 2025 was $250 million, significantly higher than $133 million in Q4 2024, marking an 87.97% increase[26] - Interest expense for Q1 2025 was $40 million, compared to $36 million in Q4 2024, reflecting an increase of 11.11%[26] - Income tax expense for Q1 2025 was $35 million, down from $43 million in Q4 2024, a decrease of 18.60%[26] - Depreciation and amortization for Q1 2025 totaled $63 million, compared to $53 million in Q4 2024, an increase of 18.87%[26] - The company experienced a loss from financing activities of $1 million in Q4 2024, which was not present in Q1 2025[23] - The Midwest Pipeline Acquisition had a tax impact that contributed to the overall financial adjustments in the reported earnings[22] Dividends - The company declared a dividend of $0.82 per share, payable on July 15, 2025, to stockholders of record as of June 16, 2025[2] Projects and Operations - Successful integration of new interstate pipelines into the financial system has been completed[5] - Construction activities for a new power plant lateral from Midwestern Gas Transmission have commenced[5] - The company is advancing on a project backlog valued at approximately $2.3 billion[5] Environmental Goals - DT Midstream aims to achieve a 30% reduction in carbon emissions by 2030 as part of its transition to net zero greenhouse gas emissions by 2050[6] Performance Metrics - The company uses Operating Earnings and Adjusted EBITDA as key performance metrics to provide a clearer picture of ongoing operations[7][8] Forward-Looking Statements - Forward-looking statements indicate management's expectations for future performance, subject to various risks and uncertainties[12][14] - The company does not provide specific net income forecasts due to the unpredictability of its components[10] - Factors affecting future results include economic conditions, regulatory changes, and operational risks[14][15]

Core Viewpoint - Wall Street anticipates a year-over-year increase in earnings for DT Midstream, driven by higher revenues, with a focus on how actual results will compare to estimates [1][2]. Earnings Expectations - DT Midstream is expected to report quarterly earnings of $1.07 per share, reflecting an 8.1% increase year-over-year [3]. - Revenue projections stand at $283.86 million, indicating an 18.3% rise from the previous year [3]. Estimate Revisions - The consensus EPS estimate has been revised 1.67% higher in the last 30 days, indicating a positive reassessment by analysts [4]. - The Most Accurate Estimate for DT Midstream is higher than the Zacks Consensus Estimate, suggesting a bullish outlook from analysts [10]. Earnings Surprise Prediction - The Earnings ESP for DT Midstream is +0.84%, indicating a likelihood of beating the consensus EPS estimate [11]. - A positive Earnings ESP is a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1, 2, or 3 [8]. Historical Performance - In the last reported quarter, DT Midstream exceeded the expected earnings of $0.91 per share, achieving $0.94, resulting in a surprise of +3.30% [12]. - Over the past four quarters, the company has surpassed consensus EPS estimates three times [13]. Conclusion - DT Midstream is positioned as a compelling candidate for an earnings beat, but investors should consider additional factors before making investment decisions [16].

J.P. Morgan analyst Jeremy Tonet reduced the price forecast for DT Midstream, Inc. DTM from $115.00 to $109.00 while keeping a Neutral rating.In February, the company reported fourth-quarter operating EPS of $0.94, surpassing the $0.89 estimate.The company also raised its 2025 adjusted EBITDA guidance by 18%, now projecting a range of $1.095 billion to $1.155 billion.The analyst says that 2025 adjusted EBITDA guidance compares with JP Morgan estimates of $1.151 billion and street median consensus of $1.140 ...

DT Midstream (NYSE: DTM ) is a pure play natural gas company with a heavy focus on pipelines but also a gathering business segment. The gathering segment is getting de-emphasized and is a shrinking portion of their operations. BesidesInterested in more income ideas? Check out Cash Builder Opportunities, where we provide ideas about high-quality and reliable dividend growth ideas. These investments are designed to build growing income for investors. A special focus on investments that are leaders within thei ...

Group 1 - DT Midstream is a natural gas focused midstream provider operating in the North-East and Mid-West US, with significant infrastructure in the Haynesville shale of Louisiana [1] - The company is evaluated based on its long-term investment potential and fundamentals, particularly in the context of income-producing equities and rental real estate properties [1] Group 2 - No stock or derivative positions are held by the analyst in any mentioned companies, and there are no plans to initiate such positions in the near future [2] - The article expresses personal opinions and is not compensated beyond the platform used for publication [2]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________ FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-40392 DT Midstream, Inc. (State or other jurisdiction of incorporation or organization) (I.R.S Employer Identification No.) Delaware 3 ...

Fourth Quarter 2024 Earnings Call February 26, 2025 Bluestone Gathering Lateral Pipeline NYSE: DTM Safe Harbor Statement This presentation contains statements which, to the extent they are not statements of historical or present fact, constitute "forward-looking statements" under the securities laws. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, business prospects, outcomes of regulatory proceedings, ma ...

Financial Data and Key Metrics Changes - The company reported adjusted EBITDA of $969 million for 2024, a record high and a 5% increase from the previous year, supported by a 7% growth in the pipeline segment [6][24][28] - For Q4 2024, adjusted EBITDA was $235 million, with the pipeline segment performing in line with the prior quarter [24][25] - The company expects adjusted EBITDA for 2025 to range from $1.95 billion to $2.155 billion, representing an 18% growth from the original 2024 guidance [27][28] Business Line Data and Key Metrics Changes - The pipeline segment experienced a 7% year-over-year growth, driven by new LEAP expansions and higher storage revenue [24][28] - The gathering segment saw a decrease of $6 million compared to the prior quarter due to production deferrals and an unplanned outage from a key producer [25][26] Market Data and Key Metrics Changes - The company noted that cold weather has rebalanced the North American natural gas market, leading to strengthened prices and record high withdrawals from storage facilities [17][18] - The Haynesville system is expected to see LNG demand grow by 12 Bcf per day over the next decade, with basin supply increasing similarly [19][20] Company Strategy and Development Direction - The company is focused on organic growth projects and has increased its project backlog to approximately $2.3 billion, which includes high-probability organic growth opportunities [15][28] - The company aims to maintain a long-term organic growth rate of 5% to 7%, with pipeline projects comprising about 70% of the total opportunity set [15][28] - The company is well-positioned to capitalize on utility-scale power generation demand, with two new projects announced to serve this market [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering on full-year guidance for 2025 and early outlook for 2026, citing positive market fundamentals supporting the pipeline business [33] - The company anticipates a more constructive pricing environment in 2025, which is expected to enhance commercial project opportunities [12][18] Other Important Information - The company was upgraded to investment grade by Fitch in October 2024 and expects further upgrades from other rating agencies in 2025 [10][30] - A quarterly dividend increase to $0.82 per share was declared, representing a 12% increase, supported by higher adjusted EBITDA following the Midwest pipeline acquisition [29][30] Q&A Session Summary Question: Clarification on new projects and their nature - Management confirmed that the two announced projects are utility-scale and in addition to previously discussed behind-the-meter opportunities [40][41] Question: Expected returns and economic terms for the backlog - Management indicated expected returns on projects are in the range of five to eight times multiple, consistent with previous disclosures [50][51] Question: Production recovery outlook - Management expects Haynesville volumes to ramp up throughout the year, while Appalachia volumes are anticipated to remain flat [54][56] Question: Capital plan and backlog expansion - Management expressed optimism about the backlog and indicated that the acquisition from One Oak has provided more opportunities than initially expected [62][63] Question: Update on CCS and regulatory progress - Management noted ongoing CCS discussions with developers and highlighted that the application requirements for the project have been finalized [82][106] Question: Market share growth in Haynesville - Management remains confident in their ability to grow market share in the Haynesville region, citing strong demand and infrastructure discussions [75][78]

Core Insights - DT Midstream, Inc. reported strong financial results for the fourth quarter and full year of 2024, with net income of $73 million for Q4 and $354 million for the full year, reflecting a solid performance and exceeding guidance [1][2][3] Financial Performance - Fourth quarter 2024 reported net income was $73 million, or $0.73 per diluted share, with Operating Earnings of $94 million, or $0.94 per diluted share, and Adjusted EBITDA of $235 million [1][2] - For the full year 2024, reported net income was $354 million, or $3.60 per diluted share, with Operating Earnings of $375 million, or $3.81 per diluted share, and Adjusted EBITDA of $969 million [2][3] Business Developments - The company successfully closed its largest acquisition in history and completed key organic growth projects ahead of schedule and on budget, positioning itself to meet growing demand [3][4] - DT Midstream increased its 2025 Adjusted EBITDA guidance range to $1.095 to $1.155 billion, representing an 18% increase over the original 2024 guidance [9] - The company announced a 12% increase in dividends from the fourth quarter of 2024 to $0.82 per share, payable on April 15, 2025 [9] Strategic Outlook - The company expressed confidence in meeting its goals for 2025 and beyond, supported by strong financial results, an increased organic project backlog, and a flexible balance sheet [4][9] - DT Midstream is transitioning towards net zero greenhouse gas emissions by 2050, with a plan to achieve a 30% reduction in carbon emissions by 2030 [6]

Financial Performance - Fourth quarter 2024 reported net income was $73 million, or $0.73 per diluted share, with Operating Earnings of $94 million, or $0.94 per diluted share, and Adjusted EBITDA of $235 million[1][2]. - Full year 2024 reported net income was $354 million, or $3.60 per diluted share, with Operating Earnings of $375 million, or $3.81 per diluted share, and Adjusted EBITDA of $969 million[2]. - For the three months ended December 31, 2024, net income attributable to DT Midstream was $73 million, compared to $88 million for the previous quarter[23]. - Adjusted EBITDA for the same period was $235 million, a decrease from $241 million in the prior quarter[23]. - The pipeline segment reported net income of $60 million for the three months ended December 31, 2024, down from $71 million in the previous quarter[24]. - The gathering segment's net income for the three months ended December 31, 2024, was $13 million, compared to $17 million in the prior quarter[25]. - Distributable Cash Flow for the three months ended December 31, 2024, was $133 million, down from $207 million in the previous quarter[26]. - Interest expense for the three months ended December 31, 2024, was $36 million, compared to $38 million in the previous quarter[26]. - The company recorded $43 million in income tax expense for the three months ended December 31, 2024, an increase from $30 million in the prior quarter[26]. - Depreciation and amortization for the three months ended December 31, 2024, was $53 million, consistent with the previous quarter[26]. - The company made a maintenance capital investment of $13 million for the three months ended December 31, 2024[27]. Future Guidance - The company increased 2025 Adjusted EBITDA guidance to a range of $1.095 to $1.155 billion, representing an 18% increase over the original 2024 guidance[3][4]. - An early outlook for 2026 Adjusted EBITDA is projected to be in the range of $1.155 to $1.225 billion, indicating a 6% annual growth from 2025[8]. Dividends and Shareholder Returns - The dividend was increased by 12% to $0.82 per share, payable on April 15, 2025[4][8]. Strategic Initiatives - The company executed agreements for two new projects aimed at serving utility-scale power generation[8]. - The company successfully closed the largest acquisition in its history last year and completed key organic growth projects ahead of schedule and on budget[3]. - The company has a strong financial position with an expanded asset footprint and increased organic project backlog, enhancing confidence in meeting future goals[5]. Environmental Commitment - DT Midstream is transitioning towards net zero greenhouse gas emissions by 2050, with a plan to achieve a 30% reduction in carbon emissions by 2030[7]. Performance Metrics - The company emphasizes the use of Operating Earnings and Adjusted EBITDA as key performance metrics to provide a meaningful representation of ongoing operations[9][10].