DT Midstream(DTM) - 2025 Q1 - Quarterly Results

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]