PBNAF - Pembina Pipeline Corporation (PBA) Q1 2024 Earnings Call Transcript

2024-05-10 13:56:13 ET

Pembina Pipeline Corporation (PBA)

Q1 2024 Earnings Conference Call

May 10, 2024 10:00 AM ET

Company Participants

Dan Tucunel - VP, Capital Markets

Cameron Goldade - SVP and CFO

Scott Burrows - President and CEO

Jaret Sprott - SVP and COO

Chris Scherman - SVP, Marketing and Strategy Officer

Stuart Taylor - SVP and Corporate Development Officer

Conference Call Participants

Jeremy Tonet - JPMorgan

Rob Hope - Scotiabank

Linda Ezergailis - TD Cowen

Robert Catellier - CIBC Capital Markets

Ben Pham - BMO

Zack Van Everen - TPH & Company

Cole Pereira - Stifel

Robert Kwan - RBC Capital Markets

Patrick Kenny - National Bank

Presentation

Operator

Good morning ladies and gentlemen and welcome to Pembina Pipeline Corporation First Quarter 2024 Results Conference Call. At this time, all lines are in listen only mode. Following the presentation, we will conduct a question-and-answer session. [Operator Instructions] This call is being recorded on Friday, May 10th, 2024.

I would now like to turn the conference over to Dan Tucunel, Vice President of Capital Markets. Please go ahead.

Dan Tucunel

Thank you, Alan. Good morning everyone. Welcome to Pembina's conference call and webcast to review highlights for the first quarter of 2024. On the call today we also have Scott Burrows, President and Chief Executive Officer; and Cameron Goldade, Senior Vice President and Chief Financial Officer; along with other members of Pembina's leadership team including Jaret Sprott, Janet Loduca, Stuart Taylor, and Chris Scherman.

I would like to remind you that some of the comments made today may be forward-looking in nature and are based on Pembina's current expectations, estimates, judgments, and projections. Forward-looking statements we may express or imply today are subject to risks and uncertainties which could cause actual results to differ materially from expectations.

Further, some of the information provided refers to non-GAAP measures. To learn more about these forward-looking statements and non-GAAP measures, please see the company's management's discussion and analysis dated May 9, 2024, for the period ended March 31st, 2024, as well as the press release Pembina issued yesterday, which are available online at pembina.com and on both, SEDAR and EDGAR.

I will now turn things over to Scott to make some opening remarks.

Scott Burrows

Thanks Dan. Our strong first quarter was highlighted by record adjusted EBITDA of $1.044 billion, which provided a great start to 2024 and built upon our great momentum from the second half of 2023. In addition, recent industry developments and company successes have further bolstered our enthusiasm for the future of Pembina....

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