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Earnings

Rockpoint Reports Record Second Quarter 2026 Results and Declares Inaugural Quarterly Dividend

By The Northwire Desk — AI Analysis Nov 05, 2025 · 07:00 RGSI · 25.32 ROCKPOINT GAS STORAGE INC CAD SHARES
RGSI · Price

Executive Summary

  • Rockpoint Gas Storage Inc. reported record Q2 2026 results, with net earnings of $45.8 M (up 89% YoY after adjusting for a prior‑period tax benefit) and Adjusted EBITDA of $83.2 M (+27% YoY).
  • The Board declared an inaugural quarterly dividend of US$0.22 per Class A share, payable on or about December 31 2025.
  • Post‑offering, the company secured a $350 M revolving credit facility and refinanced its term loan, reducing borrowing costs by 50 bps and improving liquidity to ~$214 M.

Key Details

  • Financial Highlights (Q2 2026):
  • Net earnings: $45.8 M (vs. $48.7 M in Q2 2025).
  • Adjusted Gross Margin: $101.3 M (+22% YoY).
  • Adjusted EBITDA: $83.2 M (+27% YoY).

  • Distributable Cash Flow: $48.0 M (+6% YoY).

  • LTM (Last Twelve Months) Performance:

  • Net earnings: $209 M, flat year‑over‑year.
  • Adjusted Gross Margin: $444 M, up 8%.
  • Take‑or‑pay (“ToP”) gross margin: $208.9 M, +13% YoY.

  • Realized optimization gross margin: $70.6 M, +25% YoY.

  • Liquidity & Capital Structure:

  • Available liquidity: ~$214 M.
  • Net Debt/Adjusted EBITDA leverage: 3.3× (target ≤ 3.5×).
  • New $350 M revolving credit facility replaces prior asset‑backed loan.

  • Term loan repriced in Oct 2025, lowering cost of debt by 50 bps; annual interest savings > $6 M.

  • Dividend Declaration:

  • Quarterly dividend: US$0.22 per Class A share.

  • Record date: December 15 2025; payment date: ≈December 31 2025.

  • Operational Outlook:

  • Strong early customer engagement for new ToP contracts in Alberta and California.
  • Anticipated demand growth from LNG feed‑gas (up 3.9 Bcf/d YoY) and AI/data‑center power needs.

  • Weather‑driven volatility expected to support storage spreads through winter 2025/26.

  • Conference Call:

  • Date: Nov 5 2025, 7:30 am MT / 9:30 am ET.
  • Dial‑in: Toll‑Free (800) 715‑9871, ID 9326759; webcast available online.

Notable Quotes

“We are pleased to report record second quarter performance… our assets are well positioned geographically and operationally for the upcoming winter.” – Toby McKenna, CEO

All figures are presented in U.S. dollars unless otherwise noted.

Read the original news release →

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