![Associated Press](https://pipeline-online-v1688357189.websitepro-cdn.com/wp-content/uploads/2021/09/654px-Associated_Press_logo_2012.svg_-74x74.png)
Associate Press copy is provided via The Canadian Press
CALGARY — Pembina Pipeline Corp. says it earned $346 million in the third quarter of 2023, down from $1.8 billion in the same three-month period of 2022.
The Calgary-based pipeline company says the decrease was primarily due to the benefit in 2022 from a gain on the change in ownership of the majority of Pembina’s field-based gas processing assets, which were wholly-owned prior to the creation of Pembina Gas Infrastructure last year.
On an adjusted basis, Pembina said it earned a record $1.02 million, a six per cent increase over the third quarter of 2022.
The company attributed the results to record quarterly conventional pipelines volumes, rising utilization on other key systems, and a strong contribution from Pembina’s marketing business.
Pembina says based on these results, it is raising its full-year earnings guidance range for 2023 to between $3.75 billion and $3.85 billion, up from a previous estimate of $3.55 billion to $3.75 billion.
Pembina reported third-quarter revenues of $2.3 billion, down from $2.8 billion in the prior year’s quarter.
This report by The Canadian Press was first published Nov. 2, 2023.
Companies in this story: (TSX:TKTK)
The Canadian Press
- 0079 Ministry of Energy Business_incentive PO0079 Ministry of Energy Business_incentive PO
- 0078 LHOS 20240078 LHOS 2024
- 0077 Caprice Resources Stand Up For Free Speech0077 Caprice Resources Stand Up For Free Speech
- 0053 Kingston Midstream Westspur Alameda0053 Kingston Midstream Westspur Alameda
- 0076 Latus only0076 Latus only
- 0073 SaskWorks-Pipeline Online0073 SaskWorks-Pipeline Online
- 0063 Turnbull Excavating hiring crusher0063 Turnbull Excavating hiring crusher
- 0061 SIMSA 2024 For Sask Buy Sask0061 SIMSA 2024 For Sask Buy Sask
- 0058 Royal Helium Steveville opens anonymous rocket0058 Royal Helium Steveville opens anonymous rocket
- 0055 Smart Power Be Smart with your Power office0055 Smart Power Be Smart with your Power office
- 0051 JML Hiring Pumpjack assembly0051 JML Hiring Pumpjack assembly
- 0049 Scotsburn Dental soft guitar0049 Scotsburn Dental soft guitar
- 0046 City of Estevan This is Estevan0046 City of Estevan This is Estevan
- 0041 DEEP Since 2018 now we are going to build0041 DEEP Since 2018 now we are going to build
- 0032 IWS Summer hiring rock trailer music
- 0022 Grimes winter hiring
- 0021 OSY Rentals S8 Promo
- 0018 IWS Hiring Royal Summer
- 0013 Panther Drilling PO ad 03 top drive rigs
- 0011
- 0006 JK Junior
- 0002 gilliss casing services0002 gilliss casing services
- 9002 Pipeline Online 30 sec EBEX9002 Pipeline Online 30 sec EBEX
- 9001