Keyera Corp. on Feb. 15 posted fourth-quarter adjusted EBITDA of C$197.4 million, an increase from C$153.5 million a year earlier.

The S&P Global Market Intelligence consensus adjusted EBITDA estimate was C$184.1 million.

The company's distributable cash flow in the fourth quarter was C$173.9 million, up from C$104.0 million in the prior-year period.

Keyera reported net earnings of C$88.1 million, an increase from C$34.6 million a year earlier.

For the full year, the company posted adjusted EBITDA of C$617.0 million, up from C$605.1 million a year prior.

The S&P Global Market Intelligence consensus estimate for full-year adjusted EBITDA was C$606.1 million.

Distributable cash flow for the year was C$510.4 million, up from C$459.6 million in the previous year.

Net earnings grew to C$289.9 million, from C$216.9 million in the previous year.

"This strong performance was driven by our core fee-for-service businesses and contributions from our capital projects that have come into service over the last few years," said Keyera President and CEO David Smith.