Pembina Pipeline (TSX: PPL) Q3 Earnings Down 14% to C$318 million

  • The Calgary-based company’s earnings were impacted due to higher gross profit in pipeline and facilities and weakened energy demand resulting from ongoing Covid-19 pandemic.
  • The net revenues increased from C$751 million in Q3 2019 to C$849 million in Q3 2020. While total revenue was down from C$1.7 billion in Q3 2019, to C$1.57 billion in Q3 2020.
  • Q3 adjusted EBITDA saw 8 per cent increase to C$796 million, owing to contribution from newly acquired assets of Kinder Morgan Canada Limited, and partially offset by lower margin on crude oil.
  • The cash flow from operating activities saw a decrease of 19 per cent from the same period last year to C$434 million.

 

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