DTM - DT Midstream stumbles as capex guidance looks elevated

DT Midstream ( NYSE: DTM ) -3.8% in Thursday's trading to a four-month low after missing Q4 adjusted earnings estimates and guiding for FY 2023 capital spending of $605M-$690M, far higher than expected.

The capex outlook is overshadowing DT Midstream's ( DTM ) 8% dividend increase and increased guidance for FY 2023 adjusted EBITDA of $880M-$920M.

Q4 net income totaled $85M, or $0.88/share, down from $113M, or $1.16/share, in Q3; Q4 adjusted EBITDA edged higher to $227M from $207M.

DT Midstream ( DTM ) units have lost less than 1% so far this year but gained 2.5% during the past year .

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