The following is a summary of the Pembina Pipeline Corporation (PBA) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Pembina Pipeline Corporation reported a record adjusted EBITDA of $1.044 billion in Q1 2024, a 10% increase from the same period in the prior year.

• The growth in EBITDA was driven by higher revenues and volumes on the Peace Pipeline system, increased tolls on seasonal contracts on the Alliance pipeline, and elevated volumes at the Redwater complex.

• Their debt to adjusted EBITDA ratio stood at 3.4 times as of March 31, 2024.

• The earnings for Q1 were quoted at $438 million, marking a 19% increase from the same time the previous year.

Business Progress:

• Pembina completed the acquisition of Alliance and Aux Sable, bringing in synchronization with their strategy of growth and strengthening of the current franchise.

• The revised forecast for 2024 takes into account contributions from increased ownership of Alliance and Aux Sable.

• The company has entered into a long-term agreement with Dow Chemical and made significant progress in their proposed Cedar LNG project, including securing long-term commercial agreements.

• Two significant projects, Phase VIII Peace Pipeline expansion, and the RFS IV expansion at Redwater Complex, are on track and expected to commence soon.

• Pembina's quarterly common share dividend has been increased by $0.025 per share, reflecting the continuous growth of their fee-based business.

• The corporation is considering deals for capacity assignments to third parties and exploring potential projects such as the pipeline between Taylor and Gordondale, as well as the TMX due to a focus on global exports.

More details: Pembina Pipeline IR

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