AltaGas Ltd. ( (ATGFF) ) has released its Q3 earnings. Here is a breakdown of the information AltaGas Ltd. presented to its investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
AltaGas Ltd. is a North American infrastructure company that operates in the utilities and midstream sectors, focusing on connecting customers to reliable energy sources. In the third quarter of 2024, AltaGas reported strong financial results with significant year-over-year growth. The company’s normalized earnings per share increased to $0.14, driven by robust utilities performance. AltaGas achieved a normalized EBITDA of $294 million, marking a 17% increase from the previous year, with the utilities segment showing a remarkable improvement in pre-tax income. The company also set a record in exporting liquefied petroleum gases to Asia. AltaGas continued to advance its midstream commercial priorities, securing new long-term agreements and completing key infrastructure projects. The company anticipates its normalized EBITDA for 2024 to be at the upper end of its guidance range, reflecting its strategic execution and asset strength. AltaGas remains focused on leveraging its assets to meet increasing energy demands and expects sustained growth in both its utilities and midstream businesses.
