DT Midstream Q2 FY2026 Earnings Call

Good morning and welcome everyone. Before we get started, I would like to remind you to read the Safe Harbor statement on page two of the presentation, including the reference to forward-looking statements. Our presentation also includes references to non-GAAP financial measures. Please refer to the reconciliations to GAAP contained in the appendix. Joining me this morning are David Slater, Executive Chairman and CEO, Chris Zona, President and COO, and Jeff Jewell, Executive Vice President and CFO. With that, I'll…

Thanks, Todd, and good morning everyone, and thank you for joining. During today's call, I'll highlight our key accomplishments for the quarter and discuss the constructive market fundamentals driving demand across our footprint. I'll turn it over to Chris and Jeff to review our commercial activity, project execution, and financial performance and outlook. With that, midway through the year, we continue to execute our focus strategy while delivering strong results. The organization is firing on all cylinders…

Thanks, David. Good morning, everyone. As David indicated, the second quarter was another active quarter for us commercially. We are announcing today that we've reached FID in approximately $300 million of new organic growth projects from our capital project backlog. Unpacking the new investment projects, the first is an expansion of our Haynesville system, which increases our access to East Texas supply, expands our LEAP pipeline by 200 MMcf per day, and is supported by new long-term agreements with two producer…

Thanks, Chris, and good morning, everyone. In the second quarter, we delivered adjusted EBITDA of $305 million, representing a $3 million decrease from the prior quarter. Our pipeline segment results were $14 million lower than the prior quarter, driven by seasonally lower revenues from our joint venture pipelines and higher…