Financial Performance - DT Midstream reported adjusted EBITDA of $1.138 billion for FY2025, reflecting a 17% year-over-year increase driven primarily by the Pipeline segment, which now constitutes 70% of the company's business, up from 50% at the time of its spin-off five years ago [1][3] - For FY2026, the company established an adjusted EBITDA guidance range of $1.155 to $1.225 billion and raised its quarterly dividend by 7.3% to $0.88 per share [3] Growth Outlook - The company expanded its five-year organic project backlog by 50% to $3.4 billion, with $1.6 billion already committed [2] - New final investment decisions (FID) were announced for a Viking pipeline expansion in North Dakota and a modernization program for the Midwestern pipeline, with the Vector and Millennium pipelines advancing toward FID [2] Operational Highlights - Key operational milestones included the early completion of the LEAP Phase 4 expansion and the integration of Midwestern pipeline assets, contributing to record-high throughput across the company's footprint [1][3] - Management noted that investments are supported by strong natural gas demand from LNG exports and the rapid development of data centers and power generation in the Upper Midwest [3] Company Overview - DT Midstream Inc. provides integrated natural gas services in the US, operating in two segments: Pipeline and Gathering [4]