DT Midstream (NYSE: DTM) reported strong Q1 2025 results, highlighting not only solid financial performance but also a clear long-term growth strategy anchored in the rising global demand for liquefied natural gas (LNG). With key infrastructure positioned in the Haynesville and Appalachian basins, DTM is leveraging its high-quality assets and strong contract profile to support future LNG-driven expansion.

📊 Q1 2025 Financial Highlights

DTM kicked off the year with robust financial momentum:

Net Income: $108 million
Adjusted EBITDA: $280 million
- Pipeline Segment: $197 million
- Gathering Segment: $83 million
Distributable Cash Flow (DCF): $250 million
Operating Earnings per Share (EPS): $1.06
Dividend Increase: 12% YOY

These results were driven by a full-quarter contribution from DTM’s newly acquired interstate pipelines and improved gathering volumes, especially in the Haynesville region, which rebounded following prior quarter deferrals and outages.

🌍 LNG: The Long-Term Growth Engine

DTM made it clear: LNG is central to its future.

With the U.S. LNG export market expanding rapidly, DT Midstream is in a prime position to capitalize. The company’s Haynesville LEAP system currently connects directly to key Gulf Coast LNG terminals and industrial corridors, offering:

3.6 Bcf/d of direct LNG market access
Connectivity to terminals like Sabine Pass, Cameron, Calcasieu Pass, Golden Pass, and Port Arthur
Long-term, demand-based contracts with ~7-year average tenors

🛠 LEAP Expansion & Project Pipeline

To meet growing LNG demand, DTM is advancing LEAP Phase 4, which will:

Boost capacity by +0.2 Bcf/d, bringing the LEAP system total to 2.1 Bcf/d
Come online in 1H 2026
Be supported by new long-term contracts with LNG-linked customers

DTM’s broader $2.3 billion organic capital project backlog includes:

Stonewall to Mountain Valley Pipeline (MVP) Expansion (1H 2026)
Appalachia Gathering System Phase 3 (Q2 2025 – 1H 2026)
Clean Fuels Gathering and other producer-driven expansions

These are all self-funded projects—no need for external financing—highlighting the company’s disciplined capital approach.

🔋 Positioned for the LNG Era

With global LNG demand forecast to rise sharply through 2035 and the U.S. leading the charge in new export capacity, DT Midstream is strategically positioned to serve this growing market. The company’s infrastructure, scale, and contract durability offer a compelling value proposition for investors seeking long-term exposure to North American gas and LNG trends.