AltaGas Ltd. ( (ATGFF) ) has released its Q4 earnings. Here is a breakdown of the information AltaGas Ltd. presented to its investors.
AltaGas Ltd., a North American infrastructure company, operates in the energy sector with a focus on utilities and midstream services, connecting customers and markets to reliable energy sources. The company reported strong financial results for the fourth quarter and full year of 2024, with earnings per share and EBITDA figures reaching the upper half of their guidance range. Key highlights include a normalized EPS of $0.76 for Q4 and $2.18 for the year, and a normalized EBITDA of $520 million for Q4 and $1.77 billion for the year, driven by robust performance across its utilities and midstream segments.
AltaGas’ utilities segment reported an 8% year-over-year growth in normalized EBITDA for Q4, attributed to enhanced cost management and increased revenue from rate base investments. The midstream segment maintained consistent EBITDA compared to the previous year, with significant contributions from increased export volumes and strategic asset additions like Pipestone. AltaGas also made substantial investments in its utilities business, focusing on asset modernization and system betterment, and advanced several midstream growth projects, including the Ridley Island Energy Export Facility and Pipestone II.
The company continues to focus on strategic growth and financial stability, with plans to divest its interests in the Mountain Valley Pipeline to support deleveraging efforts. AltaGas has reiterated its 2025 guidance, projecting normalized EBITDA between $1.775 billion and $1.875 billion and normalized EPS between $2.10 and $2.30. The company remains committed to delivering value through disciplined capital allocation and strategic investments in its core businesses.
Looking ahead, AltaGas aims to capitalize on favorable long-term energy fundamentals, particularly in the natural gas and natural gas liquids sectors. The company is focused on expanding its utilities and midstream operations while maintaining financial discipline to support steady dividend growth and potential capital appreciation for shareholders.