AltaGas Ltd. (ATGFF)
OTHER OTC:ATGFF
Earnings Data
Report Date
Apr 23, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.88Last Year’s EPS
0.82Same Quarter Last Year
Strong Buy
Based on 6 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlights strong operational execution, record export volumes, project progress (Pipestone II, REEF Phase 1, Opti-1 uplift), solid quarterly and full-year financial results, improved credit outlook and disciplined capital plans. Notable challenges include a 28-day labor disruption, an active Indigenous/commercial dispute on Ridley Island, higher O&M and retail contributions weakness, plus regulatory and project execution dependencies. On balance, the positive operational and financial momentum, strengthened balance sheet and hedging positions outweigh the listed challenges.Company Guidance
Strong Full-Year Financial Performance
Delivered normalized EBITDA exceeding $1.86 billion for FY2025 and reported EPS of $2.23, with reaffirmed 2026 guidance of normalized EBITDA $1.925–$2.025 billion and normalized EPS $2.20–$2.45.
Fourth Quarter Momentum
Q4 normalized EBITDA of $564 million, an 8% increase year-over-year, and normalized EPS of $0.77 (consistent with prior year).
Record and High Export Volumes
Exported more than 124,000 barrels per day of LPGs in Q4 (including >85,000 bpd from RIPET) and averaged in excess of 126,000 bpd for the full year across 83 ships; achieved record global export volumes and expanded market share (45% of volumes to China, ~6% share of China imports).
Midstream Operational Gains and Capacity Adds
Pipestone II completed on time and on budget and is operating near full capacity; Pipestone throughput up 11% YoY; North Pine operating near its 25,000 bpd capacity; Opti-1 (REEF) detailed engineering increased expected propane export capacity from 25,000 to 30,000 bpd.
Project Execution Progress
REEF Phase 1 ~70% complete and on plan, RIPET methanol removal and Dimsdale storage expansions on time and on budget, Keweenaw Connector pipeline long-lead items ordered and right-of-way secured, and Opti-1 expected in service by mid-2027.
Utilities Performance and Capital Deployment
Utilities normalized EBITDA of $383 million, up 14% YoY; usage increased 18% driven by colder weather and customer growth; deployed $255 million of utility capital in the quarter (including $117 million to modernization).
Strengthened Balance Sheet and Credit Outlook
Exited year at adjusted net debt to normalized EBITDA of 4.7x (within 4.5–5x target range), executed a $460 million equity issuance to deleverage while retaining MVP upside, and saw credit rating outlook move from negative to positive.
Shareholder Returns and Long-Term Growth Outlook
Generated 29% total shareholder return in 2025 and a 5-year TSR CAGR of 22%; stated investment capacity of approximately $5 billion over 3 years to fund $3.5 billion of growth and target long-term enterprise growth of 5%–7% per year.
Risk Management and Hedging Position
Approximately 80% of expected 2026 global export volumes are tolled or financially hedged (average FEI-to-North America spread of ~$19/bbl on non-toll volumes); frac spread hedges cover roughly 70% through 2026; Baltic freight exposure largely hedged.
ATGFF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
ATGFF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 06, 2026 | $34.23 | $34.14 | -0.24% |
Oct 30, 2025 | $29.49 | $28.80 | -2.37% |
Aug 01, 2025 | $28.90 | $29.19 | +1.01% |
May 01, 2025 | $28.71 | $28.20 | -1.78% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does AltaGas Ltd. (ATGFF) report earnings?
AltaGas Ltd. (ATGFF) is schdueled to report earning on Apr 23, 2026, Before Open (Confirmed).
What is AltaGas Ltd. (ATGFF) earnings time?
AltaGas Ltd. (ATGFF) earnings time is at Apr 23, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is ATGFF EPS forecast?
ATGFF EPS forecast for the fiscal quarter 2026 (Q1) is 0.88.