Rockpoint Reports Record Third Fiscal Quarter 2026 Results and Declares Quarterly Dividend

Executive Summary

• Rockpoint Gas Storage reported record Q3 2026 results, with net earnings of $88.4 M (up 52% YoY) and Adjusted EBITDA of $116.4 M (record level).
• Distributable cash flow rose 34% YoY to $82.2 M, supporting a quarterly cash dividend of US $0.22 per Class A share payable March 31, 2026.
• Management highlighted strong Take‑or‑Pay revenues, elevated optimization margins, and a favorable outlook driven by continued natural gas price volatility and growing storage demand.

Key Details

• Financial Highlights (Quarter)
• Net earnings: $88.4 M vs. $58.1 M in Q3 2025.
• Adjusted Gross Margin: $133.3 M (+18% YoY).
• Take‑or‑Pay revenue: $58.7 M (↑27%).
• Short‑Term Storage net of cost: $35.6 M.
• Realized optimization gross margin: $39.0 M (+30%).
• Adjusted EBITDA: $116.4 M (record).

• Distributable Cash Flow: $82.2 M (↑34% YoY); per share $0.62.

• Annual (Last Twelve Months) Highlights

• Net earnings: $239.5 M vs. $224.4 M prior year.
• Adjusted EBITDA: $389.4 M (+18%).

• Distributable Cash Flow: $254.8 M (+4%).

• Dividend

• Board declared cash dividend of US $0.22 per Class A share for Q3 2026.

• Record date: March 16, 2026; payment date: March 31, 2026.

• Outlook & Operational Commentary

• Milder western winter provided inventory visibility; expected lower injection costs in upcoming season.
• Strong ToP contract executions continue; rates remain in line with expectations.
• Anticipated increase in Alberta storage volatility as LNG Canada ramps to 1.8 Bcf/d.

• Ongoing brownfield projects: Alberta gas‑storage expansion and battery‑storage project.

• Capital Allocation

• Excess distributable cash flow may be used for organic growth projects or repurchase of Class A shares.

• Net Debt/Adjusted EBITDA = 3.1×, below the long‑term target of 3.5×.

• Webcast / Conference Call

• Date: February 10, 2026; Time: 7:30 AM MT (9:30 AM ET).
• Access link provided in release; recording available through Feb 16, 2026.

Notable Quotes

“We posted record quarterly adjusted EBITDA and strong distributable cash flow… Our fee‑for‑service gross margin grew by 14% YoY, providing stable contracted cash flow.” – Toby McKenna, CEO

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