DTM - Earnings call transcript Q4 2024

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Operator

Welcome to the DT Midstream Fourth Quarter and Year-End 2024 Earnings Call.

I will now turn it over to our speaker today, Todd Lohrmann, Director of Investor Relations. Please go ahead.

Todd Lohrmann

Good morning, and welcome, everyone.

forward-looking I harbor to of statement including reference started, read you the get the safe the on to we would remind like to presentation, Before statements. Page X

to Our presentation the to contained GAAP financial Please the refer reconciliation appendix. non-GAAP in also to measures. references includes

Slater morning and and Jeff CFO. Jewell, me this President and Joining Executive are David CEO; Vice President

to I'll David. and call ahead turn With go over that, the

David Slater

for Todd, and everyone, morning, Thanks, and thank joining. you good

XXXX outlook accomplishments, on growth then guidance. our our an and today's update Midwest turning organic discuss During some the call, I'll our provide projects, before review market financial Pipeline it on I'll performance observations beyond. gas with close acquisition for over and recent overall to our to and our XXXX Jeff

XXXX, X recordable was dedication their for strong exceptional safety the another our everyone. DTM. performance, excellence, their year very continued commend to I'd including OSHA with finishing So safety with that, incidences, like well employees done, and to commitment for year

expertise like from I'd team new operating to organization the employees to strengthened acquisition. their all assets. professionals DTM, the our with deep welcome Midwest FERC have following join These our ONEOK, to pipeline in also

and record busy assets DTM network. in has interstate Turning the XX% of of these to transition gas midpoint dressing spun exceeded track The the our for well, adjusted our year, pipeline compounded of our end and high acquisition ONEOK, expanding the year, we natural results. increased into annual At since the company our was integrating EBITDA FERC now we of to the $XXX We on our is delivered closed extending pipes these guidance team been networking. financial growth and million, which XXXX. another record

we front, of projects construction execution had on our budget. footprint, schedule on solid and the across On

placed both market of enhancing team the growth projects Haynesville connectivity Our the several and supply network. construction key into service,

providing the Utica they further this resource play. into anchor as quality meet in confidence system customer potential well expansions pace opportunities Ohio increase placed also expectations, to service as -- noting of their look the our system downstream development. of the of to premium forward continues exceed there our We as we with and resource or

On Stonewall terms many backlog the and pipeline team nearly commercial with full AGS Bcf our and LEAP complex I FID systems Valley the from gathering expansion We a rates gas and advanced in project. added clean our of our on front, reached added storage into to opportunities Mountain overall new expanded and new longer Phase our XX Haynesville interconnect, network, the recontracted producers development. at attractive our with capacity fuels a

financial rating. were prioritizing of to S&P Finch upgraded at a from grade We outlooks XXXX, least by X we continued positive October by in management, our investment strong And an sheet the and our with rating disciplined both agencies achieving having expect other investment-grade X Moody's. goal in balance and upgraded be of to

a sector a an headwinds, political approval during pleased depressed uncertain environment gas much overall LNG some macro year. produced including causing and am with very I and for performance permits despite pause the So new natural significant export slowdown, our of prices, of XXXX and

again and to time commitments environment. proven regardless on has team of broader The the their ability execute

on future the about expectations. excited I'm team's deliver and our So ability to

projects. X more am generation. a pricing capitalize demand scale that very terms opportune and serve and pleased XXXX power This I gas overall to of announce premium well of positioned our an beyond, to constructive record growing to our utility will presenting across commercial continue market sentiment, time projects natural making new it serve on morning, much to high-quality is XXXX in environment we Turning are and growth. footprint track

currently our The Transmission we power be to construction which is to expected acquired feet Indiana's, AES constructing Midwestern is for date first XXXX. lateral converted Petersburg where Gas underway coal plant, and off newly cubic a project of natural with being currently lateral from will gas. The of is in-service capacity XXX in approximately QX be an day assets, per will million

project Stonewall second is The our AGS off system. of and

The incur Stonewall We the our power have their in developments. gas to agreement systems. power on is reaching a XX-year we our expect plant with under Appalachia generation plant, one precedent and in firm XXXX. cycle to to signed X,XXX developer a subject West project of service combined turbine contract FID serve on Gathering A power customer power experienced megawatt Virginia an new which

opportunities. Our in period. increasing of but growth updated X the Subsequent first organic power organic opportunities project late the can of commercialized projects $X.X from to set. opportunity and demand These XXXX. our fully is our of represents be backlog flow, it ONEOK, service time X% growth. expected to long-term our have serve pipeline project $X.X within The cash billion X% high the are our backlog to rate total projects with to billion pipeline acquisition approximately to to we be XX% overall over billion approximately XXXX $X This robust the our funded supports growth backlog XXXX probability comprising by

take gas a like market to address moment natural to fundamentals. the Finally, I'd

experienced American and our We pipelines assets. and strong complex day experienced rebalanced across record many Cold has conditions, record our at and storage peak January withdrawals gas signals our North the weather utilizations. are natural strengthening flowing market all-time This high are demand of February, structural seeing prices. high

power and ramping continue strong. are terminals to LNG expectations New capacity remain demand growth up

to serve in importance tailwinds a in world. economy natural provide onshoring around believe asset foundational of to drive across the have growing public and fuel around fuel shift in In turning and the a fundamentals natural addition, clean gas nation in seen fundamental of point, power the industrial affordable, I our sentiment clearly these portfolio. support be era American a infrastructure generation reliable, This its as our role ushering and allies being new a investment political could will gas domestic pendulum to more an we delivering demand. the appreciates

Our Haynesville supply trends. well strengthening both system is positioned demand the and with to leading exceptionally markets connectivity capitalize to on its

We by LNG day demand in demand another our the Industrial similar a be Strongly heartland and our and XX Bcf leading is by our that expect of foreseeable will industrial to positioning basin the across are utilization onshoring we is forecasted system served can country, that increased quickly system serve. our the increase of the future. next demand Haynesville the and to footprint serve opportunities per will positioned for by our grow this emerge within to theme that for assets and supply commercial supply expansion decade, level. much well -- to as developing pipelines. believe integrated asset

Turning to power demand.

assets assets storage generation Our Interstate gas complex electric demand. new are pipeline utility-scale services. balancing located grid-connected our customers strategically to future with utility with growth With and to ample Midwest capture providing coal customers these serving in our opportunities switching

In center we advance continue connected power demand, addition data to grid to projects. our behind-the-meter

top to or developers We adjacent whose are engaged with proposed projects of our assets. sit many on

expansions follow. serve we in the these are expect projects come mainline to the of to opportunity potential will for these laterals form facilities pipeline developed, still with the DTMs While being

outlook. I'll results to you with So pass over it Jeff walk to through that, and our financial

Jeffrey Jewell

everyone. and good morning, David, Thanks,

and prior X% overall David of $XXX As X% by delivered XXXX the segment's over increase new supported Pipeline which by EBITDA million, adjusted we growth higher an was of LEAP revenue. expansions year, year-over-year, and driven mentioned, our storage

quarter, overall EBITDA of adjusted fourth we delivered million. $XXX the For

JV prior quarter, the with line costs in storage was Offset Midwest pipelines. our acquisition. related at demand driven our on segment our Pipeline and to Our pipeline increased transaction seasonal by by facility

just the above deferrals third total to from producer the for quarter, of day, the Bcf key unplanned volumes. and QX I driven Gathering segment million $X outage Gathering X.X down across production previously a quarter, customer than were the the producer by resulting of mentioned. the volumes and outage, per results Operationally, quarter, lower Our key deferrals averaged prior by in XXXX Haynesville lower customer driven Haynesville

to thus to In gas improved Haynesville averaging in be Northeast responding per year. volumes positively far with the in quarter-over-quarter. environment, were volumes Volumes Bcf X.X natural flat day appear the the XXXX, price

for to and our Now outlook XXXX on moving beyond. financial

we the current an As well next providing are year. early we done the as outlook year have guidance as for past, in

growth For EBITDA guidance adjusted our XXXX, XXXX XX% is guidance. our from original range representing $X.XXX to $X.XXX billion, billion

XXXX adjusted the the Our increase for with EBITDA midpoint. $X.XXX outlook early range is billion billion X% $X.XXX midpoint XXXX guidance a to over representing

from is by Midwest guidance supported and contribution integration incremental the growth as the recently activity Our customers. from completed of adjusted our investments, expected our well major as our pipeline including XXXX acquisition, for EBITDA XXXX

of organic billion X% of which sheet to high strong our and adjusted contracts. continue $X.X positions, backlog, by target growth we is term, take-or-pay advantaged Longer our level to balance supported X%, asset EBITDA

capital Our million XXXX guidance $XXX growth is $XXX to million.

the investments XXXX are growth opportunities For to spend level with in to million XXXX, working of in expect be approximately We advance organic have growth FID. committed to XXXX. number currently and of $XX of a we line

and to per the share, pipeline which Our Board EBITDA by base. its has $X.XX This a and increase. XX% following quarterly adjusted acquisition a earnings supported opportunity increase declared dividend Midwest higher increase our represents larger set is

coverage we it as maintaining growth, continue the are ratio changed adjusted approach and line grow in to to Our dividend our to with annually, Xx plan above to not a floor. has we EBITDA committed

sheet we pleased are and on progress an rating. our balance perspective, leverage investment with a or credit grade From positioning obtaining

outlook positive Fitch's rating agencies pipeline acquisition investment-grade positive on recently mentioned, and addition completed with from and in As to we received S&P are both Moody's David Midwest the our reaction following rating.

we XXXX sheet debt average a of and Our years forecasting leverage year-end weighted X X.Xx. proportional of X.Xx and of maturity leverage on-balance has approximately maturity profile are

execute an we expect agencies rating credit to upgraded to continue in investment-grade shared XXXX. have We be and to plans with our rating the

taxpayer Our XXXX. to our remain investments, be flows minimal growth we and to to a funding cash expect strong, cash until continue continue

that, David with pass over back to for I'll now remarks. And closing it

David Slater

Thanks, Jeff.

So strong highly track for full are in in XXXX, summary, guidance and performance. of a outlook our for continuing on delivering early confident XXXX year we record

support feels forward, business we like It infrastructure are age energy Looking the certainly our for pipeline in are positive. investment. entering very golden fundamental a market

markets. of portfolio to assets integrated capacity take Our this critical pure-play demand opportunity, providing growing and natural very with our gas well premium to pipeline asset is advantage positioned

delivering backlog, and our shareholders We project dividend. long-term advancing a organic value continue sizable to laser-focused supporting our to creation reliable remain growing on

And questions. we up open line with can the that, for now

Operator

[Operator Instructions].

Blum comes Your Michael with from Wells first Fargo. question

Michael Blum

before been But behind you I the pursuing. want center-related about about I meter. ask that projects projects. think, potential new I want the just I to set, I you do, data X talking were lateral have those definitely level X been, have before more thought or to

in addition the today, is those part which So I in X pursuing? of or question meter those guess to been announcements you've first are the the what are front of --

David Slater

those behind-the-meter to new and addition are No, in our opportunities, Michael.

these I scale, call opportunities. power utility utility would these direct So -- scale generation

Michael Blum

I'm And of the would expected on Anything give terms projects. for then projects, project, like. Midwest of the the And then wondering Appalachia length Perfect. Great. and us the just what Midwest CapEx, you in the on can contract look returns?

David Slater

Yes. customer firm is committing -- start lateral going I'd build blanket we'll mainline. under this short one-off with the facility. over Midwestern. to to relatively authorization. long-term we're on It's the the a capacity this We'll say build a to And

about. that here. It's -- capital the nice that really a excited the on sense from size we're really but a perspective, So onto you modest layers network. will capital load give long-term a of fairly

of And this new literally with the right out assets. gate transaction happened the

increased say disclosed assets that all months provide, portfolio X coming and we've So and that's we reflected into that the with I'd these going to how view backlog really set the it they're the today. the shareholders to into opportunity in we're pleased

in across again, gas It they will plant And It's for firm Q. it switch the yet. hang West a have the network, over If Appalachia Gathering off the we both network, through also and process. in been of has and system FID-ed that haven't the of years entire large gathering developer. project the power been to number Virginia a PSC It's Appalachia, Stonewall with a the system. Stonewall works capacity PJM our

do next then expect early to that And to they serve that would plant. So we commence year. construction

brand-new PGM again, a combined And a that's contract, contract, inside nice plant spot cycle a that sits the long-term in a power system. with really XX-year

Operator

with from comes Theresa Barclays. question Chen next Your

Theresa Chen

as expected updated beef your For can any of that just as you're billion economic and returns well $X.X here? from terms sort the like us broader backlog, on remind process you projects the pursuing

David Slater

Theresa. Sure,

I think nothing these consistently of been Xx there. in proxy we've X pretty to the for returns terms multiple changed projects. has sharing And on

I But deployment. comparably multiple that band. lowest the get we projects our that good think calibration in of to that capital terms all how announced the trying view possible of our we're And the obviously, on we for band So projects. fall into X a is investors today

Theresa Chen

on on weather pricing Got of a your the of conversations with the year asking on look feed views the it. your recovery higher, on the And being LNG the what and kind macro into just to of heels what from is that's spread front, analogous as the tailwinds, here inventory, Maybe of this the remainder gas result your your drawdown the XX. are better of footprint production near-term across producer pace customers, based through Slide next.

David Slater

are we don't I'm Because about public talk Why just next many the talking not year year? Yes. of that yet. producers this sure even about

our see in think Haynesville portfolio in in that we seeing the remarks a it where I way from already 'XX ramp kind ramp the guidance to exit call think rate we're it expecting the mentioned this in morning think Jeff about and over are we for our the year I volumes of to today. to is So his are

then flat across by expecting footprint. And be system. relatively Appalachia It's the we're to volumes different

Appalachia. Appalachia about in generally, the looks 'XX But flat X year, different systems guidance. have embedded We across our in

the last of of we've kind sort getting from producers. at of end our that's been feedback So the year

shift months, changes last a been the very some and around natural I'd over with with to -- sentiment at their that X producer markets sure the to as feelings But gas kind the and alluded there's do those I intact. want our they our we've our producer. of make Gathering pricing multiple going work in next they're opening obviously, going give and and producer customers a to we're closely in say in little their remarks, balance for of forward around generally the all Now remains they for the positive pricing my so fundamental that's gas public, especially lot I been a to think, look of adjust conversations speaking, of a it's the plans customers time in year. to as my the see business year had that, of just this And not But but or sense if their segment. of to market

Operator

Your comes question Citi. from Dounis next Spiro with

Spiro Dounis

projects is give you if you go Want to to to sitting these and you to the today highly backlog just David, there of maybe what probable, think behind announced back magnitude the cash referred capital sense how free and your the of this so quickly. plan staying was much a think room curious is flow? add projects just us within to while I could

would assumed I And projects center have to additive? of that part second some that question, just sure, data $X.X want these make you in Or be are this billion? they of

David Slater

more say thought great when ONEOK acquisition we at the is acquisition the we've Spiro, originally that come Maybe than significant And now to level. from us Yes. announced question. set, closed transaction. the I'll start that I'd which has highest opportunity through that we

that of around of themselves reflected a particular, our that And in backlog are quite is XX% it's assets. that's in which working pipeline projects. of because The this of that we're we we on sort the projects love of high-quality segment, series just morning one that a is there. talked the it's first there's in presenting backlog. backlog those sitting that reflected And the in opportunities So about fact

modernization more the opportunity robust post pre-close we than that even set envisioned addition, thought In we close. is

it's investment the chatted significant versus backlog to So in time investors pre-close. maybe the that last we the is opportunity and very publicly

said the that a probable highly weighted you gross in is us a number. it not And this that It's probability the giving lot of -- number. it's of backlog. backlog So confidence kind

that as So addition significant get opportunities set backlog. to over think pulled just could of in work they what disclosed we've there's I them, a time we on the into

optimistic really front in I'm company now. opportunity So set right of the about the

front on and really got population market, the the We've general both right front. political sentiment front favorable and regulatory the now on in sentiment the in

to over but company everything the ourselves aligning don't nice far to too again, years. a nicely for multiple want create ahead I of right get here, runway So now is

make think I our segment. in significant So some investments Pipeline

we're that, excited So about really Spiro.

data power generation. slide intentionally been utility Midwest, have what demand. opportunity many the that, what we've to I'll investors are generation power or then unpack captured the initiating observing We here the to in kind up the deck some underpinned set especially utility growth. projects. growth Turning call between of in as the of in and X last wanted result scale I What that and really as behind the a for the X months And gas-fired power utilities, differentiate center power that call meter center data demand directly demand of

many excited those obviously, We're already. utilities the ours that, about very are of pipelines on of because customers

that to for able waiting talked X which this time. data and same length, the those all scale be our and on the be So and to that's seeing generation FID of commercialization utility projects. we're footprint, fall emerging seems we've place emerging presenting there be robust pieces really power opportunity in we're the really that's trends and of to about robust, both to site itself into continues at sort very some just center at trend, to

about So very that. excited

Spiro Dounis

color, David. Helpful Great.

the just pivoting Utica. question, here to Second

that's well. like Sounds pretty going

think said I you exceeding expectations.

that into did just could we the I to the downstream want some are sure into about at get just understand side? the looking make I to point? transmission processing opportunities. talking Or means. downstream around what maybe So I little there mention And us Are you possibility that the a little more bit color of wonder also give and in dial you if for outlook. a bit maybe you

David Slater

opportunities a these to as will ramp. these my It's transmission want have to reference basin I point. some out of pathway points side, producers really as a to -- downstream the Spiro, was at potential Yes. expect

basin. present of for that So where going of 'XX, then out business this terms 'XX transmission will us our and with part I'm our opportunities confident. of we see And highly pathways the in in

that and behalf And can't confident resources. develop these resources again, to a speak to continuing highly going be I growth here, on companies of but public on there's these focus and

anchor their them out to plans develop to is hand-in-hand make we're for those that infrastructure the with expansion there here sure So line working continue as base. they our resource and customer

Operator

Mackay Your next question from Sachs. with John comes Goldman

John Mackay

the Haynesville. to wanted move I to

about I'd curious You guys past stand DTM grow LEAP you in be you I your on down basin just to expansions? think and guess of where can guys market in now there. Gathering the share have on talked take further both broader then also ability versus terms the where

David Slater

the and changed have great that John, last our now over had being we years. has highly is public of in new of regard. infrastructure markets, is lots X showing that, which market up to in being discussions to network Gulf confident the the that continue that There's that up. Haynesville question. like demand the really the showing We're I that's as supply domain in Nothing Coast discussed grow showing ability connect at around infrastructure right projects publicly and and the demand up, incremental there's to lots recognizing to look is the demand

arriving and right the So high level the confidence now. is demand

to obviously like of system the proud I one. we of X been win consistently again, on And once the the keep out is we why I'm We're comfortably we've and got to market the share decade, just the And in wants. all period the that. basin share that as I to into terms appreciated continue with start that, peeling and will of of off as the we So that's that that's market highly expect the we've working we pieces we'll the nice next by fits the kind capability connectivity, in nice continue past continues players have and our contract on after runway believe And one -- a back what X develop years. years. working able interconnected last over we our asset that really of market can over fact most over supply connectivity of system of the bite-sized the half expand market set. to this that expansions fair

And in of feature the we think have to that one competitive advantages that's footprint. addition the just I across

growing at will it winning our of be market keep So away keep to demand. going fair the that just forward plan chipping and share the

John Mackay

appreciate on giving I Louisiana. just maybe update CCS. staying in And I us there down that. just Am an

on think know regulatory I push seeing we're there's broader the line a little bit. time in going I the lot a side.

there. an just maybe update So

David Slater

Yes.

the So I'll Louisiana. positive is that application by start the with finalized of State requirements the were

year. So everything last slowing that was down

of and we're So done, over that's that kind step.

the the in for is state now the VI Class permit. So application period complete, it's sitting now waiting we're really the final with and

the I'll and hand, that we as construct soon project As amounts what have to point, spend project. that that expect capital will you then of material in begin to call the at should we FID

months, much and wondering see versus predict of the to I'm of timing XX anymore to always talking I'm states they transparent everyone trying weekly I it do. And they obviously terms We're underwhelm And being sense predicting I've for they with not just what know is them. going because you now, from been the what this. about last a because in I their pretty to get timing

the to application state complete. is applying The pressure to we're patient things along. move So steady

place ready are point. have to go, at support a All it's the permit project. We this lot critical our in the of for local pieces just and

stay tuned. So

Operator

Your comes with Research. question next from Keith Stanley Wolfe

Keith Stanley

question. clarifying one Just

projects contracts? done cases? For come project can some these generally recovery from with Midwestern on Or on you the to interstate projects for bilateral be growth the Do and lateral assets. rate pipeline new expect of FERC

rate for And new assets? your then related cadence that, just to curious expected those case

David Slater

Yes, great question.

base incremental and support that and into contracts that the next rate the obviously, of case rolls asset rate case, new case comes then rate next these into part be when investments. particular rate next to And your So that is initially, process. there'll capital

for out the FERC it that's will So play assets. how

case through like into a it rate case rate At process, whether all a negotiated be future, some it settlement they process a go point will whether full the type be the FERC. or of some in

the But investment whether again, economic that's all case have assessment we're when you think up certain does expectations. So in deployment. that return out of The front in or it we part as not. how terms play we we're should process about going the capital to of when cases, that rate determine make

So folded that's we the call I'll project what upfront. on when into project an return and all rates hurdle expectations the the FID initiate the

Keith Stanley

Great. these And any for frequency timing cadence just expecting case assets? rate you're or on

David Slater

those All to different for Yes. of case I guess front assets on -- in rate I are want a of me, X it cadence. at don't and And want don't I don't handy that to you. have

get So to with I'm don't here. we I you it those But it and Todd details. up going and ask have quote you want off-line, quoted to follow to can wrong

Operator

comes Van Everen. question from Zack next Your

Zackery Van Everen

to this Or on it lateral. other on due were like Do assets? relatively any you looks authorization you Midwestern service that get one FERC have is this able Just blanket just It pipeline? quickly in guys to the authorization.

David Slater

authorization of Every No. blanket capability. has one the assets a FERC

Zackery Van Everen

Okay.

we faster -- than and a because is little to your think So of due lot a side, relatively FERC be people bit on permitting in generally, one X size. projects here X that know when authorization? to depending about years build the to Will on the

David Slater

swifter in full go as Yes. FERC, than can blanket, projects we If a can those the process going under with the lot get you through just highlighted. projects the

off or and [indiscernible] main So line. literally yes, in this the one like was

super over the like go itself. facility, was we this to literally it's quick, it presented opportunity short easy to which allowed a it -- close So right this very transaction build after

right to, And on on new yes, more assets. come excited we're deal this so behind power We've we're about I to working the out there And these of that got as this, super our alluded chute. first so. are

Operator

Your with Mosca next Robert Securities. Mizuho from question comes

Robert Mosca

come So is part conversations? that on to a the a be hasn't AGS solution a potential that DTM lateral yet, there up at for project. CCS in been there? of but all I understand FID-ed Has

David Slater

what We the the have Appalachia region. -- broader power handful CCS with in Appalachia, conversations a the having of call developers a I'll been

in So minds it's of very very their much right the forefront now.

a we thought being gas-fired administration relaxing some with That be not said, new new as a requirement, a ago. and generation, rules the year what around the may is it believe perhaps of

So if would facilities or way combined the have my blend I the the towards sense in right plant over needed conventional capture cycle again optionality a footprint, hydrogen to, pivoting back to facility over developers time, but call either now carbon more what build they the in a is are that for the off end introduce time. they time, could a that of over sequestration those

forth So looking the at facility the which a and can engineer trying decarbonize optionality swing in a think the the the lot to topic. developers approach, market of the time, how I in are sentiment given to is then back this over smart on just particular nation and

Robert Mosca

Got maybe it. No, that's helpful. And then turning to Haynesville. the

just have I'm of we plan differently that how could about of terms has be think does you and exiting the that there of just How the should noted in to than it month-to-month or kind have plans. the want this think you flexible over terms -- 'XX? is look main that they their be dynamic producer of production your in I conversations course that quarter-to-quarter. 'XX

David Slater

again, know, Well, our you here customer just largest to public have I because, careful as Sure. company. as be a

them So what exit seen will in our grow our XXXX. year. said from network, volumes since I'll I'll significantly the producer what many, we've have over grow actually volumes rate say earlier generically, directly course we gathered the they expect of and maybe which customers, so repeat And that the we is I across

growth the market the shaping It's which that -- of already some is occurred, is up how right? what right So positive, expected now. given has I have would

get demand. progressively progresses demand want the publicly, I this some get They and experience with the again, it see to showing deploy and they said producers to as more think production. to of and capital see feel pricing before it to year they start they've we'll confident So see the want it, growing lot of as confident and their producers, a more up that's with

Having said mode. a today that, really is is are a move, for $X.XX pretty months they think which little supportive probably higher bit wait-and-see So we're X natural ago. were a businesses. I gas prices their significant in certainly upward than of which

just So see growth. We patient. being we're

in we'll see our how plan. as unfolds. have growth We And the that evolves year

Operator

David There over questions. closing more are now turn conference will back I remarks. no for to the

David Slater

We you delivering to company strong thank great a certainly joining look support Thanks, the us. appreciate that day. have shown for and again year. to everybody, the and you've forward Well, another

Operator

for call. gentlemen, that and all joining. concludes Ladies today's you Thank

may now disconnect. You

DT Midstream (DTM) 26 Feb 252024 Q4 Earnings call transcript