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

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.