Pembina Pipeline earnings rise year over year to $385 million in third quarter

CALGARY — Pembina Pipeline Corp. says it earned $385 million in its third quarter, up from $346 million a year earlier.

The Calgary-based company says its revenues rose to $1.84 billion, up from $1.46 billion during the third quarter of 2023.

Earnings per diluted share were 60 cents, up from 57 cents a year earlier.

The company narrowed its adjusted earnings guidance range for the year, citing prevailing forward commodity prices and the volume outlook for the fourth quarter.

Pipeline volumes during the quarter rose six per cent, which the company said was primarily due to its increased ownership interest in the Alliance Pipeline and the reactivation of the Nipisi Pipeline in late 2023.

The company says it’s poised to deliver a record financial year thanks in part to recent acquisitions and growing volumes.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:PPL)

The Canadian Press