Update: Keyera Swings to Q1 Net Loss, Notes Costs Related to Acquisition of Plains Canadian NGL Business
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Keyera reported a Q1 net loss of C$122 million, down from a net income of C$130 million, primarily due to costs from its acquisition of Plains' Canadian NGL business. Adjusted EBITDA fell to C$202.9 million, missing estimates. The company reaffirmed its 2026 guidance and growth capital expenditures are projected between C$400 million and C$475 million. Keyera faces regulatory challenges regarding the acquisition, with the Competition Bureau filing to contest the deal, citing potential harm to competition in the natural gas liquids market.
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