Pembina Pipeline Corporation

Pembina Pipeline Corporation ( PPL:CA ) Q3 2026 Earnings Call November 6, 2026 9:00 AM EST Company Participants Dan Tucunel - Vice President of Capital Markets J. Burrows - President, CEO & Director Cameron Goldade - Chief Financial Officer Chris Scherman - Chief Marketing & Strategy Officer Conference Call Participants Theresa Chen - Barclays Bank PLC, Research Division Aaron MacNeil - TD Cowen, Research Division Jeremy Tonet - JPMorgan Chase & Co, Research Division George Burwell - Jefferies LLC, Research Division Presentation Operator Ladies and gentlemen, thank you for joining us, and welcome to Pembina Pipeline Corporation Q3 2026 Results.

CALGARY, Alberta--(BUSINESS WIRE)--Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced today its financial and operating results for the third quarter of 2026. Highlights Quarterly Results - Pembina reported third quarter earnings of $570 million ($0.92 per share), adjusted earnings of $479 million ($0.77 per share), adjusted EBITDA of $1,128 million ($1.94 per share), and adjusted cash flow from operating activities of $751 million ($1.29 per share). Adjus.

Pembina Pipeline Corporation remains a Buy ahead of Q3 earnings, with 10-17% upside and a base case price target of $55.65. High-energy prices and AI-driven gas demand support PBA's contracted cash flows, but inflation and interest rates pressure costs and future demand. Consensus Q3 EPS is $0.48, up 45% YoY, but revenue growth can overstate true earnings power due to slim marketing margins.

PBA has gained 32.5% in a year, backed by earnings growth, ethane supply deals and data center power opportunities, but key risks warrant caution.