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Earnings

Gibson Energy Delivers Record Throughput and Continued Growth Across Canadian and U.S. Terminals in Q3 2025

By The Northwire Desk — AI Analysis Nov 03, 2025 · 16:01 GEI · 23.91 GIBSON ENERGY INC.
GEI · Price

Executive Summary

  • Gibson Energy reported Infrastructure Adjusted EBITDA of C$154 M and Consolidated Adjusted EBITDA of C$147 M for Q3 2025, driven by record Canadian (1.5 mmbbl/d) and U.S. (717 mbbl/d at Gateway) throughput.
  • The company issued $375 M of 4.45% senior unsecured notes due 2032 and declared a quarterly dividend of $0.43 per share.
  • Net income was C$46 M; Distributable Cash Flow was C$86 M, with a trailing‑twelve‑month dividend payout ratio of 85%.

Key Details

  • Financial Performance (Q3 2025)
  • Infrastructure Adjusted EBITDA: C$154 M (+C$4 M YoY).
  • Marketing Adjusted EBITDA: C$7 M (‑C$7 M YoY).
  • Consolidated Adjusted EBITDA: C$147 M (‑C$4 M YoY).
  • Net income: C$46 M (‑C$8 M YoY).
  • Distributable Cash Flow: C$86 M (‑C$3 M YoY).
  • Dividend payout ratio (TTM): 85%.

  • Net debt / Adjusted EBITDA (12 mo): 3.9× (up from 3.2×).

  • Operational Highlights

  • Canadian record throughput: 1.5 mmbbl/d, a 26% YoY increase, led by Hardisty and TMX‑connected tanks at Edmonton.
  • U.S. record throughput: 717 mbbl/d at Gateway, 30% YoY increase, enabled by completion of the dredging project.

  • Generated >C$9 M in recurring & non‑recurring cost savings this quarter; DCF per share up 10%.

  • Financing Activity

  • Issued $375 M of 4.45% senior unsecured notes due August 2032.

  • Proceeds used to repay $325 M of existing senior unsecured notes and amounts drawn under the revolving credit facility.

  • Corporate Actions

  • Appointment of Blake Hotzel as SVP, Commercial Development U.S. (formerly Tallgrass & Phillips 66).
  • Board approved quarterly dividend of $0.43 per common share, payable Jan 16 2026 to shareholders of record Dec 30 2025.

  • Reaffirmed credit ratings: BBB‑ (low) from Morningstar DBRS and BBB‑ from S&P, both Stable.

  • Safety & Workforce

  • 9.8 M cumulative hours without a lost‑time injury reported.

  • Conference Call

  • Q3 2025 results webcast scheduled for Nov 4 2025, 7:00 am MT / 9:00 am ET (registration link provided).

Notable Quotes

“It was another strong quarter for Gibson, as our customers drove record throughput across our Canadian and U.S. terminals,” – Curtis Philippon, President & CEO.

All monetary figures are presented in Canadian dollars unless otherwise noted.

Read the original news release →

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