Pembina Pipeline Corporation (NYSE:PBA) Q3 2024 Earnings Conference Call November 6, 2024 10:00 AM ET

Company Participants

Dan Tucunel - VP, Capital Markets
Cameron Goldade - SVP and CFO
Scott Burrows - President and CEO
Jaret Sprott - SVP and COO
Chris Scherman - SVP, Marketing and Strategy Officer
Stuart Taylor - SVP and Corporate Development Officer

Conference Call Participants

Jeremy Tonet - JPMorgan
Praneeth Satish - Wells Fargo
Rob Hope - Scotiabank
Maurice Choy - RBC Capital Banks
Robert Catellier - CIBC
Ben Pham - BMO
A.J. O'Donnell - CPH
Anthony Linton - Jefferies
Manav Gupta - UBS
Patrick Kenny - National Bank Financial

Operator

Good morning, ladies and gentlemen, and welcome to the Pembina Pipeline Corporation Q3 2024 Results Conference Call. [Operator Instructions]. This call is being recorded on Wednesday, November 6, 2024.

I would now like to turn the conference over to Dan Tucunel, VP of Capital Markets. Please go ahead.

Dan Tucunel

Thank you, Joanna. Good morning, everyone. Welcome to Pembina's conference call and webcast to review highlights from the third quarter of 2024. On the call today, we have Scott Burrows, President and Chief Executive Officer; and Cameron Goldade, Senior Vice President and Chief Financial Officer; along with other members of Pembina's Senior Officer leadership team, including Jaret Sprott, Janet Loduca, Stu Taylor, Chris Scherman and Eva Bishop.

I would like to remind you that some of the comments made today may be forward-looking in nature and are based on Pembina's current expectations, estimates, judgments and projections. Forward-looking statements we may express or imply today are subject to risks and uncertainties, which could cause actual results to differ materially from expectations. Some of the information provided refers to non-GAAP measures.

To learn more about these forward-looking statements and non-GAAP measures, please see the company's MD&A dated November 5, 2024, for the period ended September 30, 2024, as well as the press release Pembina issued yesterday. All of these materials are available online at pembina.com and on both SEDAR plus and EDGAR.

I will now turn things over to Scott to make some opening remarks.

Scott Burrows

Thanks, Dan. We were pleased yesterday to report our third quarter results, highlighted by adjusted EBITDA of $1.019 billion and adjusted cash flow from operating activities of $724 million or $1.25 per share. Pembina is poised to deliver a record financial year, reflecting the positive impact of recent acquisitions, growing volumes in the Western Canadian Sedimentary Basin and a strong contribution from the marketing business. As Cam will discuss further in a moment, we have narrowed our 2024 adjusted EBITDA guidance range by $25 million on either end to $4.225 billion to $4.325 billion.