DT Midstream, Inc. · DTM · FY2026 Q3 · Calendar Q4 2026
DT Midstream raises guidance while trimming growth capital
The quarter strengthened DT Midstream’s growth case: management raised 2026 adjusted EBITDA guidance and added projects while reducing the growth-capital range. The main counterweights are gathering-volume sensitivity, permitting timelines and dependence on LNG and power-demand growth.
Earnings scorecard
Reported versus consensusMarket reaction
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Transcript intelligence
What changed
Management raised the 2026 adjusted EBITDA guidance midpoint, announced about $0.4 billion of organic projects and cut the 2026 growth-capital range by more than 10%. The company also highlighted a committed-capital base of $2.4 billion and maintained its dividend-growth commitment.
Guidance delta
Raised 2026 adjusted EBITDA guidance; the 2027 outlook was reaffirmed.
Key takeaways
- Guidance was raised despite a sequential EBITDA decline, signaling continued confidence in the growth trajectory.
- New projects include MIST Southbound Phase 1 and a 900 MW power-plant lateral.
- Lower planned growth capital improves capital efficiency, while long-term demand themes remain LNG exports, power generation and data-center load.
Management priorities
- Advance MIST South Phase 2 and power-plant laterals.
- Complete Guardian modernization and evaluate additional Guardian timing.
- Develop Vector, Millennium Ramapo, storage and NEXUS expansion opportunities.
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Try FN2 freeCompany context
Snapshot as of publicationDT Midstream, Inc. is a U.S.-based company offering a comprehensive suite of natural gas infrastructure and related services. The organization's operations are divided into two primary divisions: Pipeline and Gathering. It is responsible for the development, ownership, and management of an interconnected network of assets. This portfolio includes both interstate and intrastate pipelines, natural gas storage facilities, lateral pipelines, gathering systems, specialized treatment plants, and various compression and surface equipment.…
Energy peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| NXT Nextpower Inc. | FY2027 Q2 · Calendar Q4 2026 | +19.1% | +3.3% | Nextpower posts record Q2 and raises FY2027 outlook |
| PSX Phillips 66 | FY2026 Q3 · Calendar Q4 2026 | +20.0% | +1.9% | Phillips 66 posts strong Q3 as utilization and midstream growth support outlook |
Latest beats and misses
Who reports nextBeat on EPS
- GENFY2027 Q2 · October 28, 2026+2.9% EPS+11.2% move
- KLACFY2027 Q1 · October 28, 2026+2.5% EPS+7.3% move
- SANFY2026 Q3 · October 28, 20260.0% EPS-6.3% move
- FFY2026 Q3 · October 28, 2026+19.5% EPS+1.4% move
- EQIXFY2026 Q3 · October 28, 2026+20.0% EPS+5.4% move
- EBAYFY2026 Q3 · October 28, 2026+7.1% EPS+0.2% move
Missed on EPS
- AWKFY2026 Q3 · October 28, 2026-2.0% EPS+1.1% move
- CPFY2026 Q3 · October 28, 2026-3.2% EPS-1.9% move
- LIIFY2026 Q3 · October 28, 2026-7.1% EPS-10.6% move
- EXRFY2026 Q3 · October 27, 2026-1.7% EPS+0.1% move
- NOWFY2026 Q3 · October 28, 2026-2.0% EPS-3.0% move
- CMGFY2026 Q3 · October 28, 2026-7.1% EPS+2.7% move
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Sources
- Earnings call transcript and parsed analysis · 2026-10-29T16:06:06.315286+00:00
- FN2 earnings calendar · 2026-10-29T01:23:20.584741+00:00
- Polygon adjusted daily market bars · 2026-10-29T16:20:42.340589+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-29T16:20:42.337773+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-29. For educational purposes only; not investment advice.