DT Midstream, Inc.
106.41-0.01 (-0.01%)
Oct 29, 4:00:02 PM EDT · NYSE · DTM · USD
Key Stats
Market Cap
10.81BP/E (TTM)
28.53Basic EPS (TTM)
3.73Dividend Yield
0.03%Recent Filings
10-Q
Q2 FY2025 results
DT Midstream's Q2 revenues climbed 26.6% y/y to $309M, fueled by the Midwest Pipeline Acquisition and new LEAP contracts, while operating income rose 19.2% to $155M amid higher depreciation from the deal. Diluted EPS edged up to $1.04 from $0.98 y/y, reconciling neatly with 102.5M shares and no anti-dilution quirks. Pipeline revenues surged 61.5% y/y to $176M, yet equity earnings dipped on seasonal softness at Millennium and Vector. Gathering held steady at $133M despite volume dips in Susquehanna. Cash from operations hit $432M YTD, yielding $280M free cash flow (derived) after $152M capex; $74M cash bolsters $959M revolver availability against $3.35B fixed-rate debt maturing 2029+. The December 2024 Midwest buy closed for $1.2B cash, adding $11M customer intangibles and $5M goodwill tweak. Regulatory pressures from FERC rate cuts loom large.
8-K
Strong Q2 earnings, project FIDs
DT Midstream posted strong Q2 2025 results, with net income of $107 million and Adjusted EBITDA of $277 million, fueled by record Haynesville gathering volumes. The company advanced its $2.3 billion organic backlog, reaching final investment decisions on $0.6 billion in projects, including the Guardian Pipeline G3 expansion adding 210 MMcf/d capacity by Q4 2028. Business hums on track. It reaffirmed 2025 Adjusted EBITDA guidance of $1.095-$1.155 billion while declaring a $0.82 per share dividend payable October 15, 2025.
8-K
DT Midstream hits investment grade
DT Midstream secured investment-grade credit ratings from Moody's (Baa3, stable outlook on May 16, 2025) and Fitch (BBB-, stable outlook on October 3, 2024), capping a strategic push since going public. These upgrades signal a robust balance sheet and business scale, paving the way for better liquidity and lower interest costs. Ratings boost access. Yet risks like interest rate hikes loom large.
8-K
Stockholders approve governance tweak
DT Midstream stockholders approved an amendment to the Certificate of Incorporation on May 6, 2025, effective May 9, allowing holders of at least 25% voting power—owned for one full year—to request special meetings, enhancing shareholder engagement while maintaining board oversight. All seven director nominees were elected, PricewaterhouseCoopers was ratified as auditors, and executive compensation received advisory approval. A competing stockholder proposal for broader special meeting rights failed decisively.
8-K
Robust Q1 earnings and dividend hike
DT Midstream kicked off 2025 with robust Q1 results, posting net income of $108 million and Adjusted EBITDA of $280 million, fueled by full-quarter contributions from newly acquired interstate pipelines. Integration of these assets into the financial system wrapped up swiftly, while construction advanced on a key power plant lateral and the $2.3 billion organic project backlog. The board hiked the quarterly dividend to $0.82 per share, payable July 15. Strong execution positions the company on track for the year.
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