PEMBINA PIPELINE CORP (PBA) Form 6-K — Nov 5, 2026
Pembina Pipeline reported Q3 2026 earnings of CAD 570 million ($0.92 per share), nearly double the CAD 286 million ($0.43) a year earlier, with adjusted EBITDA up CAD 94 million to CAD 1,128 million. The beat was driven by wider NGL margins from premium Asian propane pricing via West Coast exports, higher volumes across Pipelines and Facilities, and a higher share of profit from PGI, partially offset by the Alliance Pipeline's new toll structure. Growth projects remain on time and on budget: Cedar LNG is over 77 percent complete for a late-2028 in-service, three pipeline expansions are slated for 2027, and the Greenlight power project reached FID with a CAD 2.7 billion term loan.
Key figures
- Eps
- 0.92
- Revenue
- CAD 2,179 million (Q3 2026)
- Guidance
- Cedar LNG on time, on budget (in-service late-2028); pipeline expansions (Fox Creek-to-Namao Q1 2027, Birch-to-Taylor Q4 2027, Taylor-to-Gordondale Q1 2027) all on time, on budget
- Net Income
- CAD 570 million (Q3 2026) vs CAD 286 million (Q3 2025)
- Total Debt
- CAD 12,071 million loans and borrowings plus CAD 1,025 million subordinated hybrid notes
- Revenue Yoy
- +CAD 388 million vs Q3 2025 (CAD 1,791 million)
- Total Assets
- CAD 36,567 million
- Cash Position
- CAD 252 million cash and cash equivalents
- Volumes q3
- 3,663 mboe/d revenue volumes
- Working capital
- -CAD 564 million
- Adjusted ebitda q3
- CAD 1,128 million (vs CAD 1,034 million)
- Shares outstanding
- 582 million
- Two year term loan
- CAD 600 million closed August 14, 2026
- Nine month earnings
- CAD 1,580 million (vs CAD 1,205 million)
- Adjusted earnings q3
- CAD 479 million ($0.77/share vs $0.68)
- Dividends per share q3
- CAD 0.74
- Commercial paper program
- CAD 1.5 billion established September 16, 2026
- Nine month adjusted ebitda
- CAD 3,323 million (vs CAD 3,214 million)
AI analysis
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