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Sep 30, 2021
Kinetik Q3 2021 Earnings Report
Altus Midstream reported strong results driven by steady operational and financial performance.
Key Takeaways
Altus Midstream announced third-quarter 2021 results, reporting a net income of $50 million and an adjusted EBITDA of $70 million. The company also signed a new agreement with Apache Corporation and announced a combination with EagleClaw. A fourth quarterly cash dividend on Class A common shares was declared at a rate of $1.50 per share.
Reported third-quarter 2021 net income of $50 million, including a $4 million non-cash unrealized gain.
Adjusted EBITDA for the third quarter 2021 was $70 million.
Gathering and processing (G&P) throughput volumes averaged 452 million cubic feet (MMcf) per day.
Signed new gas processing agreement with Apache Corporation and announced a combination with EagleClaw.
Forward Guidance
Altus expects to maintain the existing dividend through 2023 with a target of 5% annual growth starting in 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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