Pembina Pipeline Corporation

Strong Financial Performance: Pembina Pipeline Corporation reported earnings of $489 million and adjusted EBITDA of $1.075 billion for Q4 2025. Full-year results included total earnings of $1.694 billion and adjusted EBITDA of $4.289 billion, reflecting a 3% increase in annual volumes compared to 2024. Adjusted cash flow from operating activities was $2.854 billion, or $4.91 per share.

2026 Guidance and Growth Outlook: Pembina guided for adjusted EBITDA in 2026 ranging from $4.125 billion to $4.425 billion, representing a compound annual growth rate of approximately 5% from 2023 to 2026. This positions them well to achieve previously set financial targets and maintain a favorable debt-to-EBITDA ratio of approximately 3.7x to 4.0x for 2026.

Increased Contracting Success: The company successfully renewed and executed contracts totaling over 200,000 barrels per day of pipeline transportation capacity in 2025. This includes vital recontracting on the Peace Pipeline and a new 10-year toll option contract for Alliance Pipeline, indicating strong demand and customer commitment.