Pembina Pipeline (NYSE: PBA) reported Q2 EPS of $1.11, versus $0.44 reported last year. Revenue for the quarter came in at $1.95 billion versus the consensus estimate of $1.63 billion.

Financial Highlights

• Pembina generated record second quarter results in revenue volumes, adjusted cash flow from operating activities, operating margin and Adjusted EBITDA, largely driven by a $10 billion increase in assets year-over-year from the acquisition of Veresen in 2017, and new assets placed into service following a large-scale capital program;
• Generated second quarter and year-to-date earnings of $246 million and $576 million, a 110 percent and 76 percent increase, respectively, over the same periods of the prior year, due to increased net revenue and share of profit from equity accounted investees;
• Realized record second quarter and year-to-date operating margin of $787 million and $1.5 billion, 123 percent and 103 percent higher, respectively, than the second quarter and first half of 2017.
• Achieved record second quarter and year-to-date Adjusted EBITDA of $700 million and $1.4 billion, representing 136 percent and 112 percent increases, respectively, over the same periods in 2017;
• Cash flow from operating activities was $603 million for the second quarter and $1.1 billion year-to-date in 2018, increases of 67 percent and 60 percent, respectively, over the same periods in 2017. Adjusted cash flow from operating activities increased by 103 percent and 87 percent to $558 million and $1.1 billion in the second quarter and first half of 2018, respectively, compared to the same period in 2017; and
• On a per share (basic) basis, cash flow from operating activities for the second quarter and year-to-date in 2018 increased 33 percent and 27 percent, respectively, compared to the same periods in the prior year. On a per share (basic) basis, adjusted cash flow from operating activities for the second quarter increased 63 percent and 48 percent year-to-date compared to the same periods of the prior year.

For earnings history and earnings-related data on Pembina Pipeline (PBA) click here.