Pembina Pipeline Reports Strong Q2 Results and Maintains Full-Year Guidance
Pembina Pipeline (NYSE:PBA) reported strong second-quarter results in fiscal 2026, with adjusted EBITDA rising by 5% year-over-year to C$1.064 billion and net earnings increasing by 23% to C$512 million. The growth was driven by improved pipeline performance, new asset contributions, and stronger marketing outcomes, despite lower revenue from the Alliance Pipeline due to a revised toll structure. The company reaffirmed its full-year adjusted EBITDA guidance of between C$4.35 billion and C$4.55 billion, with management indicating it is trending toward the midpoint of this range. However, third-quarter results are expected to decline seasonally before rebounding in Q4 due to typical seasonal patterns. Pembina also highlighted several growth initiatives underway, including the Heartland Extraction Plant, a 932-megawatt power center for Meta's Alberta data center, Cedar LNG with first exports targeted by late 2028, and participation in a proposed West Coast oil pipeline.
Topics: ebitda energy financial_results pipelines