Pembina Pipeline Corporation · PBA · FY2026 Q3 · Calendar Q4 2026
Pembina raises 2026 EBITDA outlook as NGL strength lifts Q3
Pembina's stronger third-quarter performance and higher 2026 outlook are supported by NGL margins, premium Asian propane pricing and added capacity. The durability of those market tailwinds and the execution of a growing capital program remain important counterweights.
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Earnings scorecard
Reported versus consensusMarket reaction
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Transcript intelligence
What changed
Compared with the prior quarter's maintained 2026 outlook, management raised its adjusted EBITDA guidance and said results were tracking toward the upper end. It also described a larger 2027 hedge position and further progress on growth projects.
Guidance delta
Raised 2026 adjusted EBITDA guidance to CAD 4.45–4.55 billion; management said it was tracking toward the upper end of the range.
Key takeaways
- Adjusted EBITDA increased 9% year over year to CAD 1.128 billion, according to the supplied call analysis.
- Higher NGL margins, premium Asian propane pricing and new assets entering service were identified as performance drivers.
- Management cited progress on Lator, Pacific Link and Greenlight, alongside nearly CAD 3 billion of sanctioned projects.
- The company reiterated its goal of 5–7% annual fee-based adjusted EBITDA growth through 2030.
Management priorities
- Advance Pacific Link crude-oil pipeline construction and permitting.
- Develop Greenlight toward its licensed capacity and continue Phase 2 planning.
- Progress Cedar LNG toward operational readiness and advance sanctioned growth projects.
- Expand market access through rail, pipelines and export terminals.
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Try FN2 freeCompany context
Snapshot as of publicationPembina Pipeline Corporation delivers vital transportation and midstream infrastructure solutions to the energy industry. Its business is organized into three principal divisions. The Pipelines segment oversees a vast network of conventional, oil sands, heavy oil, and transmission pipelines, capable of moving 3.1 million barrels of oil equivalent daily. This segment also includes 11 million barrels of surface storage and rail terminalling facilities with a capacity of approximately 105,000 barrels of oil equivalent per day, serving diverse energy markets and basins throughout North America.…
Energy peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| EOG EOG Resources, Inc. | FY2026 Q3 · Calendar Q4 2026 | +8.9% | +2.2% | EOG pairs record Q3 production with premium-gas investments |
| ENB Enbridge Inc. | FY2026 Q3 · Calendar Q4 2026 | — | -2.7% | Enbridge reiterates guidance as acquisitions and CEO transition reshape growth story |
| COP ConocoPhillips | FY2026 Q3 · Calendar Q4 2026 | +7.2% | -1.1% | COP beats Q3 expectations as management reiterates its 2029 cash-flow target |
| TRP TC Energy Corporation | FY2026 Q3 · Calendar Q4 2026 | +4.7% | -0.0% | TC Energy Raises EBITDA Outlook as Q3 Growth Accelerates |
Latest beats and misses
Who reports nextBeat on EPS
- EOGFY2026 Q3 · November 5, 2026+8.9% EPS+2.2% move
- FNFFY2026 Q3 · November 5, 20260.0% EPS+6.6% move
- MTDFY2026 Q3 · November 5, 2026+3.6% EPS+4.8% move
- IAGFY2026 Q3 · November 5, 2026+16.7% EPS+4.6% move
- GMABFY2026 Q3 · November 5, 2026+55.6% EPS-4.3% move
- STEFY2027 Q2 · November 4, 2026+9.7% EPS+2.5% move
Missed on EPS
- DKNGFY2026 Q3 · November 5, 2026-29.2% EPS-23.4% move
- WPMFY2026 Q3 · November 5, 2026-1.1% EPS+2.2% move
- CPTFY2026 Q3 · November 5, 2026-27.2% EPS-3.1% move
- VMRKFY2026 Q3 · November 4, 2026-425.6% EPS+2.4% move
- NTRAFY2026 Q3 · November 5, 2026-49.3% EPS-15.2% move
- TIGOFY2026 Q3 · November 5, 2026-40.8% EPS+2.6% move
Get the PBA recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-11-06T18:10:24.631082+00:00
- FN2 earnings calendar · 2026-11-06T01:23:16.275024+00:00
- Polygon adjusted daily market bars · 2026-11-06T18:50:43.132589+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-06T18:50:43.129920+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 2026-11-06. For educational purposes only; not investment advice.