Welcome to our dedicated page for DT Midstream news (Ticker: DTM), a resource for investors and traders seeking the latest updates and insights on DT Midstream stock.
DT Midstream, Inc. (NYSE: DTM) is a leading provider of natural gas infrastructure, owning and operating an extensive network of interstate and intrastate pipelines, storage, and gathering systems across the Southern, Northeastern, and Midwestern United States and Canada. Headquartered in Detroit, the company plays a crucial role in transporting clean natural gas to utilities, power plants, marketers, large industrial customers, and energy producers. DT Midstream's integrated services span natural gas transportation, storage, gathering, compression, treatment, and surface facilities.
Recent Achievements and Projects
- The LEAP Phase 1 expansion was commissioned early in August 2023, boosting capacity from 1.0 Bcf/d to 1.3 Bcf/d ahead of schedule. Phases 2 and 3 are on track for early 2024 and late 2024, respectively.
- In November 2023, DT Midstream reported a net income of $91 million for Q3, alongside a $0.69 per share dividend declared for January 2024.
- The company completed Phase 2 of the LEAP expansion in December 2023, raising capacity to 1.7 Bcf/d, expected to be available from January 2024.
- February 2024 saw DT Midstream achieving a net income of $121 million for Q4 and surpassing its annual guidance.
- For Q1 2024, the company reported a net income of $97 million, maintaining a strong start with plans for further growth projects.
Financial Performance
DT Midstream consistently demonstrates robust financial performance, with significant revenue generated from its pipeline, storage, and gathering systems. The company reported a series of strong quarterly results in 2023 and early 2024, reflecting its capacity to meet and exceed financial goals.
Sustainability Initiatives
DT Midstream is committed to achieving net-zero greenhouse gas emissions by 2050, with interim targets of a 30% reduction by 2030. The company continuously invests in low-carbon technologies and sustainable practices to align with global energy transition goals.
For more details about DT Midstream's latest updates, financial performance, and sustainability initiatives, please visit the DT Midstream website.
DT Midstream (NYSE: DTM) will announce its first quarter 2023 financial results on May 2, 2023, before market opens. A conference call is scheduled for 9:00 a.m. ET that same day to discuss the earnings. Investors can join the call via an internet broadcast or by calling 888.330.2022 in the U.S. The call will be archived on the company’s website. DT Midstream operates and develops natural gas pipelines and facilities across the U.S. and Canada, actively working towards achieving net-zero greenhouse gas emissions by 2050.
DT Midstream announced the appointment of Angela Archon to its Board of Directors effective March 7, 2023. With over 30 years at IBM, Archon brings extensive experience in strategy and operations. She will also chair the Corporate Governance Committee. Concurrently, Wright Lassiter III has resigned as Lead Independent Director after contributing to the company's successful transition post-spin-off from DTE Energy. Stephen Baker has been appointed as the new Lead Independent Director. DT Midstream, listed as DTM, focuses on natural gas transportation and aims for net zero greenhouse gas emissions by 2050.
DT Midstream reported strong results for the fourth quarter of 2022, achieving a net income of $85 million, or $0.88 per diluted share. Operating Earnings stood at $91 million, translating to $0.93 per diluted share, with Adjusted EBITDA reaching $227 million. The company raised its 2023 Adjusted EBITDA guidance to a range of $880 to $920 million and provided a preliminary outlook for 2024 Adjusted EBITDA between $920 to $970 million, indicating a 9% annual increase. Additionally, DT Midstream increased its quarterly dividend by 8% to $0.69 per share, scheduled for payment on April 15, 2023.
DT Midstream, Inc. (NYSE: DTM) has scheduled its 2023 Annual Meeting of Stockholders for May 5, 2023. Shareholders who are on record by March 8, 2023, can participate in the voting process. Headquartered in Detroit, DT Midstream engages in the ownership, operation, and development of natural gas pipelines and associated facilities across the U.S. and Canada. The company aims to reach net-zero greenhouse gas emissions by 2050, targeting a 30% reduction in carbon emissions within the next decade.
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