The earnings call reflects a positive sentiment overall, with significant achievements in fee-for-service margin growth, sustainability targets, and project advancements. However, there are challenges in the Marketing segment and some deferral in growth capital spending.

Company Guidance

During Keyera's 2025 Third Quarter Conference Call, the company provided robust guidance across various metrics. Keyera reported a realized margin growth exceeding 10% year-over-year in its fee-for-service business, underpinned by higher utilization rates. The company highlighted its success in securing over 100,000 barrels per day of new contracts on KAPS, while existing in-plant fractionation capacity was almost fully contracted. Financially, Keyera achieved an adjusted EBITDA of $286 million, distributable cash flow of $186 million or $0.81 per share, and net earnings of $85 million. The gathering and processing segment saw a realized margin increase to $112 million from $99 million the previous year, and liquid infrastructure's realized margin rose to $147 million from $135 million. Marketing segment guidance for the full year anticipated realized margins between $280 million and $300 million, with long-term annual base marketing guidance reaffirmed at $310 million to $350 million. The company also adjusted its 2025 growth capital guidance to $220 million-$240 million, down from $275 million-$300 million, and maintenance capital to $60 million-$70 million. Looking ahead to 2026, Keyera expects growth capital to be $400 million-$475 million, while maintenance capital is projected at $130 million-$150 million.

Fee-for-Service Margin Growth

Realized margin grew by more than 10% year-over-year in the fee-for-service business, driven by higher utilization across the integrated system.

GHG Intensity Reduction Achievement

Keyera met its 2025 GHG intensity reduction target of 25% a full year ahead of schedule.

Successful Contracting and Project Advancements

Secured over 100,000 barrels per day of new contracting on KAPS and existing in-plant fractionation capacity. Major growth projects like KFS frac 2 debottleneck and KAPS Zone 4 are on time and budget.

Financial Performance

Adjusted EBITDA was $286 million, distributable cash flow was $186 million, and net earnings were $85 million, reflecting stable performance.

Sustainability and Growth Outlook

Solid sustainability program focusing on long-term risks and value creation, with a 7% to 8% compound annual growth rate in fee-based adjusted EBITDA projected from 2024 through 2027.

Keyera Corp. (TSE:KEY) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

TSE:KEY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 18, 2026	2025 (Q4)	0.46 / -	0.39	―	―	―
Nov 14, 2025	2025 (Q3)	0.51 / 0.37	0.81	-54.32% (-0.44)	―	―
Aug 07, 2025	2025 (Q2)	0.37 / 0.55	0.62	-11.29% (-0.07)	―	―
May 15, 2025	2025 (Q1)	0.52 / 0.57	0.31	83.87% (+0.26)	―	―
Feb 13, 2025	2024 (Q4)	0.49 / 0.39	0.21	85.71% (+0.18)	―	―
Nov 14, 2024	2024 (Q3)	0.57 / 0.81	0.34	138.24% (+0.47)	―	―
Aug 08, 2024	2024 (Q2)	0.52 / 0.62	0.69	-10.14% (-0.07)	―	―
May 14, 2024	2024 (Q1)	0.52 / 0.31	0.6	-48.33% (-0.29)	―	―
Feb 14, 2024	2023 (Q4)	0.53 / 0.21	-0.37	156.76% (+0.58)	―	―
Nov 08, 2023	2023 (Q3)	0.50 / 0.34	0.56	-39.29% (-0.22)	―	―

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

TSE:KEY Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 14, 2025	C$41.80	C$43.28	+3.54%
Aug 07, 2025	C$42.32	C$42.87	+1.30%
May 15, 2025	C$43.22	C$42.28	-2.17%
Feb 13, 2025	C$40.34	C$40.71	+0.92%

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 Keyera Corp. (TSE:KEY) report earnings?

Keyera Corp. (TSE:KEY) is schdueled to report earning on Feb 18, 2026, After Close (Confirmed).

What is Keyera Corp. (TSE:KEY) earnings time?

Keyera Corp. (TSE:KEY) earnings time is at Feb 18, 2026, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is TSE:KEY EPS forecast?

TSE:KEY EPS forecast for the fiscal quarter 2025 (Q4) is 0.46.

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