CALGARY, AB, April 3, 2025 /CNW/ - AltaGas Ltd. ("AltaGas" or the "Company") (TSX: ALA) will release its first quarter 2025 results on Thursday, May 1, 2025, before market open. A conference call and webcast will be held the same day to discuss the financial results and other corporate developments.

Conference Call and Webcast Details:

Date:

Thursday, May 1, 2025

Time:

9:00 a.m. MT (11:00 a.m. ET)

Webcast:

https://app.webinar.net/ZjpMOZP8l5A

Dial-in (Audio only):

+1 437 900 0527 or toll free at +1 888 510 2154

Strong Operating Performance Delivers 2024 Results in Upper Half of Guidance Range

CALGARY, AB, March 7, 2025 /CNW/ - AltaGas Ltd. ("AltaGas" or the "Company") (TSX: ALA) reported fourth quarter and full year 2024 results, reaffirmed 2025 guidance, and provided an update on other corporate developments.

HIGHLIGHTS

(all financial figures are unaudited and in Canadian dollars unless otherwise noted)

Normalized EPS1 was $0.76 in the fourth quarter and $2.18 for the full year of 2024 while GAAP EPS2 was $0.68 in the fourth quarter and $1.95 for the full year of 2024. Full year normalized EPS was above the midpoint of AltaGas' 2024 guidance range, driven by strong performance across the enterprise.Normalized EBITDA1 was $520 million in the fourth quarter and $1,769 million for the full year of 2024 while income before income taxes was $231 million in the fourth quarter and $746 million for the full year of 2024. Full year normalized EBITDA was at the top-end of AltaGas' 2024 guidance range, driven by strong business performance, including: the partial settlement of Washington Gas' post-retirement benefit pension plan in the third quarter, record liquified petroleum gas ("LPG") export volumes, the benefit of continued Utilities rate base investments, the addition of the Pipestone assets, and enhanced cost management at the Utilities.Utilities reported normalized EBITDA1 of $336 million in the fourth quarter of 2024 compared to $311 million in the fourth quarter of 2023, while income before taxes was $186 million in the fourth quarter of 2024 compared to $207 million in the fourth quarter of 2023. The largest drivers of the eight percent year-over-year growth in Utilities normalized EBITDA were enhanced cost management, contribution from investments in rate base, and increased revenue from the 2023 District of Columbia ("D.C.") rate case decision. These factors were partially offset by warm weather in D.C. and Michigan and lower contributions from the Retail business.Midstream reported normalized EBITDA1 of $182 million in the fourth quarter of 2024 consistent with the fourth quarter of 2023, while income before taxes in the segment was $181 million in the fourth quarter of 2024 compared to $79 million in the fourth quarter of 2023. Positive contributions from increased export volumes and the addition of the Pipestone Assets were offset by lower extraction volumes due to ethane re-injection, a higher percentage of export volumes under tolling contracts in 2024 relative to 2023, and lower contribution from the Mountain Valley Pipeline ("MVP") due to recording equity earnings instead of the allowance for funds used during construction ("AFUDC") recorded in 2023.AltaGas continued to heavily invest in its Utilities business in 2024 to add new customers and enhance the safety and reliability of its system. The Company deployed $722 million of capital to the Utilities in 2024, with $360 million spent on asset modernization programs and the balance on system betterment and new meter growth. Asset modernization and system betterment will remain a key focus in 2025 and beyond, which will allow AltaGas to deliver the lowest cost and most reliable form of residential and commercial heating in its jurisdictions.AltaGas continues to work with numerous data center developers in Northern Virginia around building pipeline interconnects to provide natural gas for onsite power generation for new data centers. Business development and engineering work on these opportunities is expected to progress through 2025 with potential construction in 2026 and onwards. AltaGas is pursuing these opportunities on a de-risked basis through traditional rate regulated investments. These data center opportunities would further increase AltaGas' strong Utilities growth outlook.Utilities system expansion opportunities progressed during the fourth quarter of 2024. SEMCO's Keweenaw Connector Pipeline project continued with key regulatory and engineering work and now expects to seek regulatory approval in 2025. The project is focused on ensuring long-term reliable gas and system resiliency for our Michigan customers, offering diversity of supply and more reliable service to 14,000 customers in the Keweenaw Peninsula.AltaGas advanced a number of key Midstream growth projects in 2024:The Company and Royal Vopak reached a positive final investment decision ("FID") and commenced construction on the Ridley Island Energy Export Facility ("REEF"). REEF remains on budget and on-schedule to achieve its 2026 in-service date. With only ten shipping days to strong demand markets in Northeast Asia, REEF will efficiently deliver Canada's vital energy products to the region and allow Canadian LPGs access to premium global markets.AltaGas continued to progress construction of the Pipestone II deep cut facility in the Alberta Montney. The acid gas wells and gas gathering system have been completed, offsite fabrication has been executed in line with the project delivery schedule, and more than 40 percent of facility construction is complete. The project is on track to be in-service in 2025. Pipestone II is fully contracted under long-term take-or-pay agreements with principally all costs incurred or committed under fixed price contracts.AltaGas continued to advance regulatory and engineering work across a number of gas processing, fractionation, storage and export projects, based on strong customer demand. These projects would further extend the growth outlook for AltaGas' Midstream business.The Company advanced commercial contracting across the Midstream business which further de-risked cash flows:Executed long-term LPG supply and tolling agreements across the global exports platform during the fourth quarter of 2024 and first quarter of 2025 achieving AltaGas' base long-term tolling target for REEF. This includes Keyera entering a 15-year contract for 12,500 Bbls/d of LPGs at REEF.Entered two agreements that have a high-single digit average contract length with a large investment grade international energy company in Northeastern B.C. ("NEBC") for a total of 100 Mmcf/d of gas processing capacity at the Townsend facility, with associated liquids handling and fractionation.Extended the contract term with a large investment grade producer at the Pipestone I facility in the Alberta Montney for five years, including gas processing, liquids handling and marketing services.Entered an 18-year agreement for approximately 8,000 Bbls/d fractionation capacity at Keyera Fort Saskatchewan ("KFS"), which provides AltaGas with dedicated frac capacity Pipestone II liquids while securing take-in-kind rights for LPG volumes and provides access to Keyera's extensive rail, storage, and logistics network in Alberta's Industrial Heartland.Since entering service in June 2024, the Mountain Valley Pipeline ("MVP") has been steadily operating under long-term 20-year contracts with investment grade counterparties. The 2.0 Bcf/d pipeline is expandable by 475 MMcf/d through additional compression and is extendable into North Carolina through the Southgate expansion project. The Southgate project filed an application with the U.S. Federal Energy Regulatory Commission ("FERC") in February to approve its proposed shortened pipeline route. AltaGas has a ten percent non-operated equity stake in the MVP pipeline and a 5.1 percent interest in Southgate and is currently evaluating a sale of its interests with proceeds planned to accelerate AltaGas' deleveraging plan.AltaGas had two financings in the fourth quarter of 2024, including Washington Gas' execution of a note purchase agreement on October 1, 2024 to issue US$200 million of private placement notes. Of this, US$100 million was issued on October 1, 2024 at 5.40 percent with a maturity date of October 1, 2054 and the remaining US$100 million will be issued on April 1, 2025 at 4.84 percent with a maturity date of April 1, 2035. On November 18, 2024, AltaGas also executed a partial debt extinguishment of medium-term notes ("MTNs"), resulting in the derecognition of $806 million of previously issued MTNs for total consideration of $793 million.On December 3, 2024, AltaGas' Board of Directors approved a six percent increase to its 2025 common share dividends to $1.26 per common share annually ($0.315 per common share quarterly). This change will be effective for the dividend that will be paid on March 31, 2025. Concurrent with the dividend increase announcement, the Company extended its five to seven percent compounded annual growth rate ("CAGR") guidance on dividends to 2029.AltaGas has had a strong start to the year and is reiterating the Company's 2025 full year guidance, including normalized EBITDA of $1,775 million to $1,875 million and normalized net income per share of $2.10 to $2.30.

CALGARY, AB, Feb. 6, 2025 /CNW/ - AltaGas Ltd. ("AltaGas" or the "Company") (TSX: ALA) will release its fourth quarter 2024 results on Friday, March 7, 2025, before market open. A conference call and webcast will be held the same day to discuss the financial results and other corporate developments.

Conference Call and Webcast Details:

Date:

Friday, March 7, 2025

Time:

9:00 a.m. MT (11:00 a.m. ET)

Webcast:

https://app.webinar.net/L5da3EBqGmN

Dial-in (Audio only):

+1 437 900 0527 or toll free at +1 888 510 2154

CALGARY, AB, Dec. 23, 2024 /CNW/ - AltaGas Ltd. ("AltaGas" or the "Company") (TSX: ALA) is pleased to provide a year-end update on global exports tolling and commercial contracting activities. One of the Company's strategic priorities is to advance commercial de-risking of our Midstream business with increased global exports tolling and additional long-term commercial contracting across the value chain. AltaGas has made significant progress on this strategic priority in 2024 and exits the year on a very strong footing.

CALGARY, AB, Dec. 3, 2024 /CNW/ - AltaGas Ltd. ("AltaGas" or the "Company") (TSX: ALA) announces its 2025 guidance and outlook; a six percent increase to its common share dividend; and continued progress on strategic priorities.

HIGHLIGHTS

(all financial figures are unaudited and in Canadian dollars unless otherwise noted)

2025 normalized EBITDA1 guidance of $1,775 million - $1,875 million, which represents approximately six percent year-over-year growth using midpoint-to-midpoint guidance figures. Growth is driven by asset modernization investments in the Utilities and improved utilization in Midstream. This growth is partially offset by commercial de-risking initiatives and large multi-year Midstream capital projects that will come online in 2026 and 2027.2025 normalized EPS1 guidance of $2.10 - $2.30, which represents approximately two percent year-over-year growth using midpoint-to-midpoint guidance figures.The Company's 2025 capital program is forecasted to be $1.4 billion2, which reflects strong growth opportunities balanced against AltaGas' leverage targets. The 2025 business plan includes slightly more than half of AltaGas' capital allocated to Utilities, with 45 percent funding long-term Midstream projects, and the balance on digital and systems initiatives focused on improving long-term operating efficiency.AltaGas is increasing its common share dividend by six percent to $1.26 per share per year. This is the fifth consecutive dividend increase as the Company remains committed to delivering regular, sustainable, and annual dividend increases. The Company is extending its five to seven percent compounded annual growth rate ("CAGR") guidance on dividends to 2029.AltaGas remains committed to completing the de-leveraging journey and moving towards its 4.0x Adjusted Net Debt1 to normalized EBITDA1 leverage target. This aligns with a BBB-mid investment grade credit rating and will provide AltaGas with strong long-term financial flexibility. Monetization of AltaGas' 10 percent equity interest the Mountain Valley Pipeline ("MVP") is the most immediate path to reducing leverage with the cash flows from the Pipestone II and Ridley Island Energy Export Facility ("REEF") projects set to provide incremental de-leveraging.The Utilities have a robust long-term growth outlook driven by investment opportunities focused on continued customer additions, asset modernization, and system expansion. These investments will continue to improve the long-term safety and reliability of the network, allowing AltaGas to continue to meet long-term customer demand for safe, reliable, and affordable natural gas while providing steady rate base growth. Increased Midstream investment in 2025 will position the Company to benefit from the robust growth outlook for Western Canadian natural gas and natural gas liquids ("NGL") production. AltaGas has a strong growth outlook for its Midstream platform based on industry development plans, the location of its infrastructure assets, continued optimization opportunities, and various brownfield and greenfield growth initiatives.

CALGARY, AB, Nov. 18, 2024 /CNW/ - AltaGas Ltd. ("AltaGas" or the "Company") (TSX: ALA) announces the expiration of the previously announced separate offers (the "Offers") to purchase up to $800,000,000 (the "Maximum Purchase Amount") in aggregate purchase price, excluding accrued and unpaid interest, of its outstanding notes in the table below (collectively, the "Notes") at 5:00 p.m. (Toronto time) on November 18, 2024 (the "Expiration Date").

The offer to purchase the notes (the "Offers") is made upon the terms and subject to the conditions set forth in the Offer to Purchase, dated November 8, 2024 (the "Offer to Purchase").

CALGARY, AB, Nov. 18, 2024 /CNW/ - AltaGas Ltd. ("AltaGas" or the "Company") (TSX: ALA) announces the pricing terms for its previously announced separate offers (the "Offers") to purchase up to $800,000,000 (the "Maximum Purchase Amount") in aggregate purchase price, excluding accrued and unpaid interest, of its outstanding notes series listed in the table below (collectively, the "Notes"). The offer will expire at 5:00pm (Toronto Time) on November 18, 2024 (the "Expiration Date").  Investors can tender bonds up until the Expiration Date, and the Company will announce results and acceptance amounts prior to 9:30am (Toronto time) on November 19, 2024.

CALGARY, AB, Nov. 8, 2024 /CNW/ - AltaGas Ltd. ("AltaGas" or the "Company") (TSX:ALA) announced that it has commenced plans to purchase up to C$800,000,000 (the "Maximum Purchase Amount") in aggregate purchase price, excluding accrued and unpaid interest, of its outstanding series of notes listed in the table below (collectively, the "Notes"), with the Maximum Purchase Amount subject to increase, decrease or waiver by the Company at its sole discretion.

The offer to purchase the notes (the "Offers") is made upon the terms and subject to the conditions set forth in the Offer to Purchase, dated November 8, 2024 (the "Offer to Purchase").

The Company Expects 2024 Normalized EBITDA to be in the Upper End of Guidance Range, Based on Strong Utilities and Midstream Performance

CALGARY, AB, Oct. 31, 2024 /CNW/ - AltaGas Ltd. ("AltaGas" or the "Company") (TSX: ALA) reported third quarter 2024 financial results and provided an update on its operations and other corporate developments.

HIGHLIGHTS

(all financial figures are unaudited and in Canadian dollars unless otherwise noted)

Normalized EPS1 was $0.14 in the third quarter of 2024 compared to $0.08 in the third quarter of 2023, while GAAP EPS2 was $0.03 in the third quarter of 2024 compared to a loss of $0.18 in the third quarter of 2023. Year-over-year normalized EPS growth was primarily driven by strong Utilities performance.Normalized EBITDA1 was $294 million in the third quarter of 2024 compared to $252 million in the third quarter of 2023, while income before income taxes was $20 million in the third quarter of 2024 compared to a loss before income taxes of $51 million in the third quarter of 2023. The 17 percent year-over-year growth in normalized EBITDA was principally driven by strong Utilities performance, as outlined below.Normalized FFO per share1 was $0.35 in the third quarter of 2024 compared to $0.50 in the third quarter of 2023, while cash from operations per share3 was $0.07 in the third quarter of 2024 compared to $0.01 in the third quarter of 2023.The Utilities segment reported normalized EBITDA of $117 million in the third quarter of 2024 compared to $71 million in the third quarter of 2023, while income before taxes was $24 million in the third quarter of 2024 compared to a loss of $16 million in the third quarter of 2023. Strong year-over-year growth was principally driven by the partial settlement of Washington Gas' post-retirement benefit pension plan, contributions from rate base and accelerated replacement programs ("ARP") investment, and enhanced cost controls.The Midstream segment reported normalized EBITDA of $181 million in the third quarter of 2024 compared to $185 million in the third quarter of 2023, while income before taxes was $123 million in the third quarter of 2024 compared to $61 million in the third quarter of 2023. Despite rail outages due to the Alberta wildfires and national rail strike that drove higher one-time operating costs, AltaGas was able to deliver strong financial performance due to operational execution.AltaGas exported a record of 128,272 Bbl/d of liquified petroleum gases ("LPGs") to Asia in the quarter, a nine percent year-over-year increase. Strong export volumes and contributions from the Pipestone assets were offset by lower export margins (including the impact of higher percentage of tolling contracts), higher long-term incentive costs due to AltaGas' rising share price, and a lower year-over-year contribution from the Mountain Valley Pipeline ("MVP") as the asset was placed into service with equity earnings below the Allowance for Funds Used During Construction ("AFUDC") in the third quarter of 2023.AltaGas continued to advance key Midstream commercial priorities during and subsequent to the quarter, including:Entering two agreements that have a high-single digit average contract length with a large investment grade international energy company in Northeastern B.C. ("NEBC") for a total of 100 Mmcf/d of gas processing capacity at the Townsend facility, along with associated liquids handling and fractionation services;Extending the contract term with a large Canadian investment grade producer at the Pipestone I gas processing facility in the Alberta Montney for an additional five years, including gas processing, liquids handling and marketing services; andAdvancing long-term tolling arrangements across the global exports platform with a number of agreements now in definitive documentation stages. This includes AltaGas having contracts in hand or being in active negotiations for more than 100 percent of first phase capacity for the Ridley Island Energy Export Facility ("REEF"). AltaGas continues to target having 60 percent of its export volumes under long-term tolling agreements by the start of the 2027 NGL year.The ongoing commercial success reiterates the strategic advantages of AltaGas' assets across NEBC, the Alberta Montney, and the global exports value chain. The Company continues to look forward to leveraging its assets to connect upstream and downstream customers and markets and drive the best collective outcomes for all stakeholders.AltaGas remained active from a regulatory perspective during the third quarter, including filing a rate case and proposed accelerated replacement program ("ARP") extension in the District of Columbia ("D.C."). The District Strategic Accelerated Facility Enhancement ("District SAFE") is Washington Gas' third modernization program in D.C. and is focused on long-term safety and reliability.AltaGas continued to advance key Midstream growth projects during the third quarter. Strong progress was made on REEF's in-water piling work for the jetty and the site's overburden activities, while compression, refrigeration and vessel fabrication work is advancing in controlled operating environments at offsite manufacturing facilities. At Pipestone II, construction is progressing to plan, including completion of the two acid gas injection wells and the majority of the gas gathering system, while compression, processing and fabrication work is progressing at offsite manufacturing facilities. Both midstream growth projects remain on schedule and on budget with 50 percent of REEF and 92 percent of Pipestone II project costs either incurred or under fixed price contracts.MVP in the Appalachian Basin moved into full commercial operations in the quarter with 20-year firm service contracts with investment grade counterparties coming into effect July 1, 2024. The 2.0 Bcf/d pipeline is fully subscribed and is expandable by an additional 475 MMcf/d through low cost compression with extension into North Carolina through the Southgate project. AltaGas' 10 percent, non-operated equity stake in the pipeline remains non-core and is a divestiture candidate for the coming period.AltaGas had two financings in the third quarter of 2024, including:On July 9, 2024, AltaGas issued $250 million of senior unsecured medium-term notes with a 5.60 percent coupon, due on March 14, 2054. The net proceeds were used to pay down amounts drawn on the syndicated credit facility, which was incurred when the Company repaid its term loan on June 28, 2024.On September 23, 2024, AltaGas issued US$900 million of 7.20 percent Fixed-to-Fixed Rate Junior Subordinated Hybrid Notes, due 2054 (the "Hybrid Notes"). The Hybrid Notes are callable at the first reset date of October 15, 2034. AltaGas also executed a cross-currency swap arrangement to convert the underlying proceeds and interest costs into Canadian dollars, resulting in an effective annual interest rate of 6.90 percent over the initial ten year period of the notes. AltaGas intends to use the net proceeds of the Hybrid Notes to reduce the Company's outstanding senior notes and bank debt, and will receive 50 percent equity treatment for credit rating metrics.On September 30, 2024, AltaGas announced the conversion of the Cumulative Redeemable Floating Rate Preferred Shares, Series H (the "Series H Shares") into Cumulative Redeemable Five-Year Rate Reset Preferred Shares, Series G (the "Series G Shares") on a one for one basis and the subsequent cancellation and de-listing of the Series H Shares from the Toronto Stock Exchange ("TSX").On October 1, 2024, Washington Gas executed a note purchase agreement to issue US$200 million in private placement notes. US$100 million of these notes were issued on October 1, 2024 at 5.40 percent with a maturity date of October 1, 2054 and the remaining US$100 million will be issued on April 1, 2025 at 4.84 percent with a maturity date of April 1, 2035. The proceeds will be used for general corporate purposes.Following a strong third quarter, AltaGas anticipates delivering fiscal 2024 results that will include normalized EBITDA1 in the upper end of the guidance range of $1,675 million to $1,775 million while normalized EPS1 is expected to be around the midpoint of the guidance range of $2.05 to $2.25.

CALGARY, AB, Oct. 4, 2024 /CNW/ - AltaGas Ltd. ("AltaGas" or the "Company") (TSX: ALA) will release its third quarter 2024 results on Thursday, October 31, 2024, before market open. A conference call and webcast will be held the same day to discuss the financial results and other corporate developments.

Conference Call and Webcast Details:

Date:                             Thursday, October 31, 2024

Time:                            9:00 a.m. MT (11:00 a.m. ET)

Webcast:                      https://app.webinar.net/5lXWpwZbZJM

Dial-in (Audio only):     +1 437 900 0527 or toll free at +1 888 510 2154