PBA - Pembina Pipeline GAAP EPS of C$0.61 misses by C$0.07 revenue of C$2.3B misses by C$120M

2023-05-04 17:44:55 ET

• Pembina Pipeline press release ( NYSE: PBA ): Q1 GAAP EPS of C$0.61 misses by C$0.07 .
• Revenue of C$2.3B (-24.3% Y/Y) misses by C$120M .
• Common Share Dividend Increase - the board of directors declared a common share cash dividend for the second quarter of 2023 of $0.6675 per share, representing an increase of 2.3 percent, to be paid, subject to applicable law, on June 30, 2023, to shareholders of record on June 15, 2023.
• KAPS - the sale of Pembina Gas Infrastructure's interest in the Key Access Pipeline System was completed on April 26, 2023.
• Cedar LNG - during the quarter, Cedar LNG received its Environmental Assessment Certificate from the British Columbia Environmental Assessment Office and a positive Decision Statement from the federal Minister of Environment and Climate Change.
• Guidance - reiterated 2023 adjusted EBITDA guidance range of $3.5 billion to $3.8 billion.
• Strong Balance Sheet - at March 31, 2023 the ratio of proportionately consolidated debt-to-adjusted EBITDA was 3.6 times and Pembina expects to exit the year with a ratio of 3.3 to 3.6 times

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