Gibson Energy Delivers Record Throughput and Continued Growth Across Canadian and U.S. Terminals in Q3 2025

Core Insights - Gibson Energy Inc. reported strong financial and operational results for Q3 2025, highlighting record throughput in both Canadian and U.S. terminals, which emphasizes the company's critical role in the global energy value chain [3][5]. Financial Highlights - Infrastructure Adjusted EBITDA reached $154 million, a $4 million increase from Q3 2024, driven by a 26% year-over-year increase in Canadian throughput to 1.5 million barrels per day [5][6]. - U.S. throughput also set a record at 717 thousand barrels per day, a 30% increase year-over-year, attributed to the completion of a dredging project [5]. - Net income for Q3 2025 was $46 million, down $8 million from Q3 2024, primarily due to lower contributions from the Marketing segment [6]. - Distributable Cash Flow (DCF) was $86 million, a $3 million decrease from Q3 2024, influenced by lower Adjusted EBITDA [6]. - The company maintained a dividend payout ratio of 85% on a trailing twelve-month basis [6][19]. Strategic & Business Developments - Gibson generated over $9 million in cost savings during the quarter, increasing DCF per share by 10% and positioning the company to exceed its $25 million cost savings target for 2025 [5]. - The company appointed Blake Hotzel as Senior Vice President of Commercial Development U.S., bringing over 20 years of experience [5][6]. - The company has achieved 9.8 million hours without a lost-time injury, reflecting its commitment to safety [5]. Debt and Credit Ratings - The net debt to adjusted EBITDA ratio was 3.9x for the twelve months ended September 30, 2025, compared to 3.2x for the same period in 2024 [6][20]. - Gibson issued $375 million of 4.45% senior unsecured notes due August 2032, with proceeds used to repay existing debt [6]. - The company reaffirmed its investment-grade credit ratings of BBB (low) from Morningstar DBRS and BBB- from S&P, both with stable outlooks [6].