DT Midstream Surpasses Q4 Expectations, Announces Dividend Increase

The energy company's fourth-quarter earnings exceeded analyst forecasts, leading to a 7% dividend hike and a positive market response.

DT Midstream, Inc. reported fourth-quarter fiscal 2023 operating earnings of $121 million, outperforming expectations with an adjusted EPS of $1.24, up from $0.94 in the previous quarter.
The company's fourth-quarter results surpassed Wall Street expectations, with an average estimate of five analysts surveyed by Zacks Investment Research for earnings of 90 cents per share.
DT Midstream announced a 7% increase in its dividend to $0.735 per share, to be paid on April 15, 2024, to stockholders of record as of March 18, 2024.
For fiscal year 2024, DT Midstream expects Adjusted EBITDA of $930 million-$980 million, Operating EPS of $3.43-$3.83, and Distributable Cash Flow of $640 million-$700 million.
Shares of DT Midstream traded higher by 4.04% at $54.55 following the earnings announcement.