DT Midstream DTM Q4 2025 Earnings Call Transcript | The Motley Fool
The Motley Fool
by newsfeedback@fool.com (Motley Fool Transcribing)February 19, 2026
AI-Generated Deep Dive Summary
DT Midstream DTM reported strong financial performance in its Q4 2025 earnings call, with adjusted EBITDA reaching $1.138 billion for the year—a 17% increase over previous years. The Pipeline segment drove much of this growth, expanding by 27% due to the Midwest Pipeline acquisition and higher LEAP (Liquids Enhancement Access Platform) and storage revenue. Fourth-quarter EBITDA rose to $293 million, a $5 million sequential increase, reflecting seasonal demand on joint venture pipelines and elevated LEAP revenue. The company also announced a quarterly dividend of $0.88 per share, marking a 7.3% year-over-year increase, with a solid dividend coverage ratio of 2.6x for 2025.
DT Midstream highlighted its robust project pipeline, with an organic backlog growing by nearly 50% to $3.4 billion over five years. Approximately 75% of this backlog is allocated to pipeline projects, and $1.6 billion has already been committed to specific initiatives. The company’s Contracted Portfolio is also strong, with 95% of agreements tied to demand-based contracts that have an average tenure of eight years. Notably, the pipeline segment now accounts for 70% of the business mix, up from 50% at spin-off. This shift underscores DT Midstream’s strategic focus on long-term, stable revenue streams.
The company’s credit ratings remain investment-grade
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Originally published on The Motley Fool on 2/19/2026