Keyera Corp. Announces 2022 Second Quarter Results, Raises 2022 Marketing Guidance
- Adjusted earnings before interest, taxes, depreciation, and amortization (“adjusted EBITDA” 1) was $316 million, compared with $224 million for the second quarter of 2021. The year-over-year increase was largely driven by strong Marketing segment performance.
- The company realized cash flow from operating activities (“CFO”) of $199 million, compared with $112 million for the same period in 2021.
- Distributable cash flow1 (“DCF”) was $209 million ($0.94 per share), compared with $148 million ($0.67 per share) for the second quarter of 2021.
- Net earnings were $173 million ($0.78 per share), compared to $79 million ($0.36 per share) for the same period in 2021.
- The company continues to preserve balance sheet strength, ending the quarter with a net debt to adjusted EBITDA ratio2 of 2.3 times, which is below the company’s target range of 2.5 to 3.0 times.
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