Keyera Q1 Earnings Call Highlights

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Sat, May 16, 2026 astatine 8:08 AM CDT 7 min read

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Keyera closed its acquisition of Plains’ Canadian NGL business conscionable earlier its Q1 call, calling it a large enlargement of its integrated platform. The woody is present earlier the Competition Tribunal, and absorption said it remains assured successful its lawsuit portion focusing connected integration and synergies.
Q1 results were supported by fee-based businesses, with adjusted EBITDA of CAD 232 cardinal and DCF of CAD 133 million, portion Marketing was weaker. Gathering and Processing and Liquids Infrastructure some posted grounds margins, but nett net were a nonaccomplishment of CAD 122 million.
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Keyera (TSE:KEY) said it closed its acquisition of Plains’ Canadian earthy state liquids concern 2 days earlier its first-quarter league call, describing the transaction arsenic a large enlargement of its integrated level portion besides noting that the woody is present earlier the Competition Tribunal.

President and CEO Dean Setoguchi said the acquisition “materially expands Keyera’s integrated platform” and is simply a “natural extension” of the company’s strategy to widen its integrated worth chain. He said the combined level should amended lawsuit entree to cardinal markets, flexibility and reliability, portion creating “a stronger, much businesslike cross-Canada NGL corridor.”

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Setoguchi besides addressed the Competition Commissioner’s exertion to the Competition Tribunal successful transportation with the transaction, saying Keyera is constricted successful what it tin accidental portion the substance is earlier the tribunal. “We are assured successful the spot of our case,” helium said, adding that the company’s existent absorption is connected integration and capturing synergies from the expanded system.

First-quarter results amusement fee-based strength, little Marketing publication

Senior Vice President and CFO Eileen Marikar said Keyera’s first-quarter results reflected continued spot successful its fee-for-service businesses, offset by little contributions from the Marketing segment. Excluding transaction costs related to the Plains acquisition, adjusted EBITDA was CAD 232 million. Distributable currency travel was CAD 133 million, oregon CAD 0.58 per share. Net net for the 4th were a nonaccomplishment of CAD 122 million.

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