DT Midstream, Inc. (DTM) SEC Filings & Earnings Calls
EquiReason read 11 DT Midstream, Inc. SEC filings in the last 12 months. Latest: 8-K on 2026-07-30 — Net income $112M; Adjusted EBITDA $305M; Earnings per diluted share $1.09; Guidance: 2026 Adjusted EBITDA guidance of $1.155 to $1.225 billion; 2027 early outlook of $1.225 to $1.2.
Source: SEC EDGAR filings · figures as of 2026-06-30 · read by EquiReason
- Market cap
- 12.6B
- P/E TTM
- 27.1
- Dividend yield
- 2.7%
- 52-week
- —
- Next earnings
- 29 Oct, in 5 days
Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
30 Jul 20268-K · 2.02, 7.01Net income $112M; Adjusted EBITDA $305M; Earnings per diluted share $1.09; Guidance: 2026 Adjusted EBITDA guidance of $1.155 to $1.225 billion; 2027 early outlook of $1.225 to $1.295 billionearningsopen
Figures in the filing · each found in the filing text
| Net income · Q2-2026 | $112M | |
| Adjusted EBITDA · Q2-2026 | $305M | |
| Earnings per diluted share · Q2-2026 | $1.09 | |
| Dividend per share · Q3-2026 | $0.88 | |
| Backlog commercialized · Q2-2026 | $2.00B | |
| Capacity expansion · Haynesville · Q2-2026 | 200 |
Guidance
2026 Adjusted EBITDA guidance of $1.155 to $1.225 billion; 2027 early outlook of $1.225 to $1.295 billion
Reaffirmed 2026 and 2027 guidance with strong backlog of $2B commercialized projects, indicating confidence in future growth.
Risks flagged
Regulatory approval risk for pipeline expansion projects
“Filed the FERC 7(c) application for the Guardian Pipeline 'G3' expansion project” · word for word
Forward-looking statements subject to assumptions and uncertainties
“This Current Report on Form 8-K contains forward-looking statements that are subject to various assumptions, risks and uncertainties.” · word for word
30 Jul 202610-QDT Midstream reported modest year-over-year growth in revenue and earnings, driven by strong Gathering segment performance and higher equity method earnings.earningsopen
Figures in the filing · each found in the filing text
| Operating revenues · Q2-2026 | $343M | +11% y/y |
| Net income attributable to DT Midstream · Q2-2026 | $112M | +5% y/y |
| Diluted earnings per share · Q2-2026 | $1.09 | +5% y/y |
| Operating cash flow · H1-2026 | $502M | +16% y/y |
| Capital expenditures · H1-2026 | $183M | +20% y/y |
| Dividends declared per share · Q2-2026 | $0.88 | +7% y/y |
| Pipeline segment revenue · Pipeline · Q2-2026 | $183M | +4% y/y |
| Gathering segment revenue · Gathering · Q2-2026 | $168M | +26% y/y |
Risks flagged
Customer concentration risk
“Changes in expected production from Expand Energy and other third parties in our areas of operation.” · word for word
Regulatory risk
“Changes in laws, regulations or enforcement policies, including those relating to construction and operation of new interstate gas pipelines.” · word for word
12 May 20268-K · 5.02Reported the departure of a director or principal officer (CEO/CFO change); filed financial statements and exhibits with this reportopen
Risks flagged
Executive departure may indicate organizational instability.
“Termination without cause of EVP and Chief Administrative Officer.”
30 Apr 202610-QOperating Revenues $336M (+11% y/y); Net Income Attributable to DT Midstream $130M (+20% y/y); Diluted Earnings per Common Share $1.27 (+20% y/y)open
Figures in the filing · each found in the filing text
| Operating Revenues · Q1-2026 | $336M | +11% y/y |
| Net Income Attributable to DT Midstream · Q1-2026 | $130M | +20% y/y |
| Diluted Earnings per Common Share · Q1-2026 | $1.27 | +20% y/y |
| Net cash from operating activities · Q1-2026 | $280M | +13% y/y |
| Pipeline Segment Operating Revenues · Pipeline · Q1-2026 | $185M | +10% y/y |
| Gathering Segment Operating Revenues · Gathering · Q1-2026 | $156M | +16% y/y |
| Earnings from equity method investees · Equity Method Investees · Q1-2026 | $43M | +16% y/y |
| Plant and equipment expenditures · Q1-2026 | $78M | +10% y/y |
| Free Cash Flow · Q1-2026 | $202M | +5% y/y |
| Dividends declared on common stock · Q1-2026 | $89M | +7% y/y |
Risks flagged
Customer concentration risk
“changes in expected production from Expand Energy and other third parties in our areas of operation” · word for word
Commodity price exposure
“the timing and extent of changes in commodity prices” · word for word
26 Mar 2026DEF 14ADTM filed its 2026 proxy statement, disclosing executive compensation, governance, and shareholder proposals.open
Figures in the filing · each found in the filing text
| Adjusted EBITDA · FY2025 | $1.14B | +17% y/y |
| Net Income · FY2025 | $441M | +25% y/y |
| Total Stockholder Return · FY2025 | 347.7% | |
| OSHA Recordable Incident Rate · FY2025 | $0.71 | |
| Compressor Reliability · FY2025 | 98.4% | |
| Treating Plant Run Time · FY2025 | 100.0% |
Risks flagged
Leverage ratio risk from acquisition debt
“The Board exercised its authority to adjust the Company’s leverage ratio for 2024 to exclude debt incurred as a result of the Interstate Pipelines acquisition, which closed on December 31, 2024.” · word for word
19 Feb 202610-KSenior notes outstanding $3.35Bopen
Figures in the filing · each found in the filing text
| Senior notes outstanding · FY2025 | $3.35B |
Risks flagged
Commodity Price Risk
“Fluctuations in energy prices could materially adversely affect our business, financial condition and results of operations.” · word for word
Regulatory Risk
“Our natural gas transportation and storage operations are subject to extensive regulation by FERC and state regulatory authorities.” · word for word
Aging Infrastructure
“Certain portions of our systems ... have been in operation for many years, with some portions being more than 50 years old.”
19 Feb 20268-K · 2.02, 7.01Quarterly cash dividend per share $0.88earningsopen
Figures in the filing · each found in the filing text
| Quarterly cash dividend per share · Q1-2026 | $0.88 |
29 Jan 20268-K · 5.02Reported the departure of a director or principal officer (CEO/CFO change); filed financial statements and exhibits with this reportopen
Risks flagged
Leadership change may cause short-term uncertainty but appears orderly.
“Departure of Chairman and appointment of new roles; no financial disruption noted.”
30 Oct 202510-QDT Midstream reported Q3 2025 results with revenue up 27% YoY and net income up 31% YoY, driven by the Midwest Pipeline Acquisition.earningsopen
Figures in the filing · each found in the filing text
| Operating revenues · Q3-2025 | $314M | +27% y/y |
| Net Income Attributable to DT Midstream · Q3-2025 | $115M | +31% y/y |
| Operating cash flow · 9M-2025 | $706M | +16% y/y |
| Declared dividends · Q3-2025 | $83M | +17% y/y |
| EPS diluted · Q3-2025 | $1.13 | +26% y/y |
| Pipeline segment revenue · Pipeline · Q3-2025 | $169M | +51% y/y |
| Gathering segment revenue · Gathering · Q3-2025 | $145M | +7% y/y |
Risks flagged
Customer concentration risk
“changes in expected production from Expand Energy and other third parties in our areas of operation” · word for word
Regulatory risk
“changes in laws, regulations or enforcement policies, including those relating to construction and operation of new interstate gas pipelines, ratemaking to which our pipelines may be subject, or other non-environmental laws and regulations” · word for word
Commodity price risk
“the timing and extent of changes in commodity prices” · word for word
30 Oct 20258-K · 2.02, 7.01Net Income $115M; Adjusted EBITDA $288M; Dividend per Share $0.82; Guidance: 2025 Adjusted EBITDA guidance raised to $1,115-$1,145 millionearningsopen
Figures in the filing · each found in the filing text
| Net Income · Q3-2025 | $115M | |
| Adjusted EBITDA · Q3-2025 | $288M | |
| Dividend per Share · Q4-2025 | $0.82 | |
| Guardian Pipeline Expansion Capacity · Q3-2025 | $537.00 | +40% y/y |
Guidance
2025 Adjusted EBITDA guidance raised to $1,115-$1,145 million
Adjusted EBITDA guidance raised due to strong YTD performance and record volumes; pipeline expansions support future growth.
Risks flagged
Commodity price risk and natural gas demand variability could affect gathering volumes.
“Record Haynesville volumes but subject to natural gas price dynamics.”
Project execution risk on pipeline expansions.
“LEAP Phase 4 completed early and on budget; G3 expansion FID taken.”
DT Midstream, Inc. — questions
- What did DT Midstream, Inc. file recently?
- 11 SEC filings in the last 12 months. Latest: 8-K on 2026-07-30 — Net income $112M; Adjusted EBITDA $305M; Earnings per diluted share $1.09; Guidance: 2026 Adjusted EBITDA guidance of $1.155 to $1.225 billion; 2027 early outlook of $1.225 to $1.295 billion
Every figure on this page comes from DT Midstream, Inc.'s own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.