AltaGas Ltd. Earnings Recaps
Q3 2025
Oct 31, 2025
AltaGas reported a robust Q3 2025 with a normalized EBITDA of $268 million, reflecting an 18% year-over-year growth when excluding a prior period pension settlement, driven by strong operational and capital advancements.
Key takeaways
- Achieved record global LPG export volumes of over 133,000 barrels per day, with year-to-date growth at 4%.
- Announced the Final Investment Decisions (FID) for three new growth projects, including the REEF Optimization One, expected to boost propane export capacity.
- Continued focus on capital allocation with $3.5 billion earmarked for growth initiatives over the next three years while maintaining a strong balance sheet.
- Successful progression of construction for key projects including Pipestone II and REEF, with significant costs committed under fixed-price contracts, enhancing risk management.