AltaGas CEO remains pleased with company performance amid quarterly earnings decline

FORT ST. JOHN, B.C. — An oil and gas company with a major footprint in the Montney region is reporting a downtick in year-over-year earnings in the third quarter of 2025.

AltaGas, based out of Calgary, has released its third-quarter financial report for the year, claiming to have delivered 133,147 barrels per day to Asian markets between July 1st and September 30th, 2025, a four per cent increase compared to the same time frame in 2024.

Despite that increase, the company’s normalized earnings per share (EPS) of four cents for the quarter are down compared to the 14 cents reported in 2024.

Normalized EPS is a measurement of the company’s income on a per-share basis after adjusting for expenses. 

Its EPS measured by generally accepted accounting principles (GAAP) was even lower. The company lost eight cents per share in the third quarter of 2025, down from a three-cent profit on each share in 2024’s third quarter.

Those numbers are also both down significantly compared to AltaGas’ second quarter financial results, which saw the company earn 27 cents per share according to its normalized EPS and 56 cents per share when measured using GAAP.

The company’s normalized earnings before interest, taxes, depreciation and amortization for the third quarter reportedly sat at $268 million, down from $294 million in 2024’s third quarter.

Despite those declines, company president and chief executive officer Vern Yu said he and his team are pleased with the company’s third quarter performance.

“Our focus remains on optimizing our existing assets to drive the best outcomes for stakeholders, while advancing current growth projects and developing new opportunities to expand our secured growth backlog,” Yu said.

Other highlights in the report include strong performance in the company’s midstream sector, led primarily by its Montney region assets.

To view the full third-quarter financial report, look below.