Tue, Oct 29, 4:00 PM (65 days ago)
DT Midstream, Inc. (NYSE: DTM) reported its Q3 2024 results, highlighting a revenue increase to $248 million from $234 million year-over-year, driven by growth in its Pipeline segment. Operating income remained stable at $122 million, while net income attributable to DT Midstream decreased slightly to $88 million ($0.90 per share) from $91 million in Q3 2023. For the nine months, revenues rose to $732 million from $678 million, with net income growing to $281 million from $263 million. Cash flow from operating activities was $611 million, slightly lower than the previous year. The company repaid $399 million of its Term Loan Facility, resulting in a loss of $4 million on extinguishment. Total assets decreased to $8.6 billion, with total liabilities at $4.2 billion, reflecting a robust liquidity position with $984 million available under its Revolving Credit Facility. The company anticipates continued growth through strategic expansions in its gathering and pipeline operations, particularly in the Haynesville and Marcellus/Utica regions. However, uncertainties remain regarding market conditions and regulatory changes that could impact future operations.