Gibson Energy Inc. ( (GBNXF) ) has released its Q4 earnings. Here is a breakdown of the information Gibson Energy Inc. presented to its investors.
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Gibson Energy Inc. operates as a leading liquids infrastructure company, primarily focusing on the storage, optimization, processing, and gathering of liquids and refined products across North America. Headquartered in Calgary, Alberta, the company holds key terminal assets in locations such as Hardisty and Edmonton, Alberta, and Texas.
In their latest earnings report, Gibson Energy Inc. announced record full-year results for 2024, driven by high volumes at their Gateway and Edmonton terminals. The company highlighted substantial infrastructure results and a 5% dividend increase, indicating a successful year despite challenges.
Key financial metrics included a full-year revenue of $11.78 billion. Infrastructure Adjusted EBITDA saw a 22% increase to $601 million due to contributions from the Gateway Terminal. However, the Marketing Adjusted EBITDA decreased by 57% due to tighter crude oil differentials. Net income dropped by 29% to $152 million, primarily due to higher administrative and restructuring costs.
Strategically, Gibson made significant strides, including refinancing senior unsecured notes for cost savings and expanding terminal capacities with new tanks under long-term agreements. The company also marked a safety milestone and announced leadership changes, with a new Senior Vice President and Chief Financial Officer appointed.
Looking ahead, Gibson Energy remains focused on growth and stability, with management committed to enhancing shareholder value and maintaining a robust infrastructure portfolio. The company is poised to continue leveraging its strategic assets and operational strengths in the coming year.
