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Keyera beats Q2 adjusted EBITDA estimates as its net earnings double


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Keyera beats Q2 adjusted EBITDA estimates as its net earnings double

Keyera Corp. on Aug. 6 reported second-quarter adjusted EBITDA of C$249.4 million, an increase from C$209.9 million in the year-ago quarter.

The S&P Global Market Intelligence consensus estimate of adjusted EBITDA for the quarter was C$212.3 million.

Distributable cash flow in the quarter came in at C$143.6 million, down from C$155.8 million in the prior-year period. Keyera reported net earnings of C$219.4 million for the quarter, up from C$106.8 million in the year-earlier quarter.

The Canadian midstream energy company also appointed Blair Goertzen to its board, effective immediately.