Keyera Corp
KEY
ISIN null / Valor 12218511
Keyera Corp
UMushroom community rating:
About company
Keyera Corp is a company based in Alberta's Industrial Heartland that operates NGL processing plants, storage facilities, and a pipeline system for the transportation of NGL mix and specification NGLs to rail and truck terminals in the area for distribution to markets and export. The company also owns and operates sour gas processing and liquids stabilization plants, such as the Pipestone gas plant and the Simonette gas plant, which support liquids-rich Montney and Duvernay development in the area. Additionally, Keyera Corp owns the largest iso-octane manufacturing facility in the world, producing enough product to fuel approximately 385,000 vehicles per day.
Summarized from source with an LLMView SourceSector: EnergyLatest Results (17.11.2025):
Keyera Corp delivered its 2025 Third Quarter financial results, showing a mixed yet strategically sound performance. While adjusted EBITDA and distributable cash flow registered slight declines compared to Q3 2024, the company continued to generate robust fee-for-service margins and maintained a strong financial position. Keyera’s integrated platform and ongoing capital-efficient projects, together with progress on its Plains acquisition, underline its commitment to long‐term growth and sustainable dividend support.
Financial Performance
Keyera Corp reported adjusted EBITDA of $281 million for Q3 2025, with a slight improvement to $286 million when excluding transaction costs related to the Plains acquisition. Distributable cash flow came in at $181 million (or $0.79 per share), edging up to $186 million when excluding these costs. However, net earnings declined to $85 million compared with $185 million in the same quarter of 2024.
Fee-for-Service and Segment Margins
The company recorded a more than 10% increase in its fee-for-service realized margin, reflecting effective capacity utilization across its integrated system. The Gathering and Processing segment generated a realized margin of $112 million versus $99 million last year, and the Liquids Infrastructure segment increased its quarterly margin to $147 million, up from $135 million. Conversely, the Marketing segment's margin decreased to $73 million compared to $135 million in Q3 2024 due to changes in liquids blending and condensate import volumes.
Financial Position and Strategic Updates
Keyera strengthened its balance sheet during the quarter by issuing $2.3 billion in senior notes and $500 million in hybrid notes, resulting in a net debt to adjusted EBITDA ratio of 1.7 times – well below its target range. Additionally, the company is progressing its significant Plains acquisition, which is expected to close in Q1 2026, further complementing its integrated value chain and bolstering long-term cash flow stability.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
7069 M
Market cap (USD)
2,773,165
Daily traded volume (Shares)
44.21 / 43.27
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
Est P/E ratio
EPS (USD)
Est EPS (USD)
Ratings & reviews
EQUITIES OF THE SAME SECTOR
