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Gotrade News - DT Midstream reported third-quarter 2026 net income of $118 million, or $1.16 per diluted share, on Thursday, October 29, 2026, according to DT Midstream's official release. Adjusted EBITDA was $301 million, and the company raised its 2026 Adjusted EBITDA guidance to $1,185 million to $1,225 million.
Regular-session close on October 29, 2026, New York time. Prices and changes: Yahoo Finance, cross-checked against the closing price on Nasdaq.com. Market cap: that close times the shares outstanding on the latest 10-Q or 10-K cover (SEC EDGAR).
DT Midstream Earnings Details
For the third quarter, DT Midstream reported Operating Earnings, a non-GAAP measure, of $118 million, or $1.16 per diluted share, matching its reported net income. Adjusted EBITDA, also a non-GAAP measure, was $301 million, the release said. The Board of Directors declared a dividend of $0.88 per share on its common stock, payable January 15, 2027 to stockholders of record at the close of business December 15, 2026.
"We continue to deliver strong performance in 2026," said David Slater, Chairman and CEO. "We are also advancing our organic growth backlog, with $2.4 billion of projects now committed." The company said three growth projects reached a final investment decision during the quarter: the MIST Southbound Phase 1 expansion of Midwestern Gas Transmission, which it said will add approximately 300 MMcf/d of capacity, a 20% increase in total pipeline capacity; a new pipeline lateral from Midwestern Gas Transmission to serve a utility-scale power plant in Indiana; and the second phase of the Guardian Pipeline modernization program.
Why It Matters for DTM
"Our year-to-date results are ahead of plan," said Jeff Jewell, Executive Vice President and CFO. He said the company is raising its 2026 Adjusted EBITDA guidance to a range of $1,185 million to $1,225 million "based on our strong performance and outlook for the remainder of the year." In its third-quarter investor presentation, the company said it is narrowing the range and that the updated midpoint represents 7% year-over-year growth. It also reaffirmed its 2027 Adjusted EBITDA early outlook of $1,225 million to $1,295 million.
According to the presentation, DT Midstream advanced over $0.4 billion of new organic projects to a final investment decision in the quarter, bringing the committed share of its approximately $3.4 billion project backlog to 70%. The company also said it received FERC approval for the Guardian pipeline rate case settlement, which it said recovers the Guardian Phase 1 modernization investment.
What to watch next: DT Midstream will pay its $0.88 per share dividend on Friday, January 15, 2027, to stockholders of record at the close of business on Tuesday, December 15, 2026.
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M. Alfathan Rahman is a content writer with over 3 years of experience developing digital content strategies across various industries, including fintech. He has experience producing content for tax-related websites and financial education platforms. His focus areas include data research, and crafting financial articles that are informative, accurate, and accessible to investors of all experience levels.
