DT Midstream, Inc. income statement
In fiscal 2025, DT Midstream, Inc. reported revenue of $1.24bn, up 26.7% on the year before, operating income of $614m (a 49.4% margin) and net income of $441m, or $4.30 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 504 | 754 | 840 | 920 | 922 | 981 | 1,243 | 1,332 |
| Operating income | 261 | 414 | 402 | 478 | 471 | 489 | 614 | 658 |
| Interest expense | 75 | 113 | 112 | 137 | 150 | 153 | 161 | 163 |
| Income before tax | 292 | 440 | 422 | 482 | 500 | 504 | 598 | 656 |
| Income tax | 72 | 116 | 104 | 100 | 104 | 137 | 144 | 170 |
| Net income | 204 | 312 | 307 | 370 | 384 | 354 | 441 | 471 |
| Diluted EPS | $2.11 | $3.23 | $3.16 | $3.81 | $3.94 | $3.60 | $4.30 | $4.59 |
| Diluted shares (average) | 97m | 97m | 97m | 97m | 98m | 98m | 103m | 103m |
| EBITDA | 354 | 566 | 568 | 648 | 653 | 698 | 872 | 933 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 249 | 303 | 309 | 314 | 317 | 336 | 343 | 336 |
| Operating income | 113 | 148 | 155 | 155 | 156 | 166 | 173 | 163 |
| Interest expense | 36 | 40 | 40 | 40 | 41 | 40 | 42 | 40 |
| Income before tax | 119 | 146 | 145 | 153 | 154 | 170 | 169 | 163 |
| Income tax | 43 | 35 | 34 | 35 | 40 | 36 | 53 | 41 |
| Net income | 73 | 108 | 107 | 115 | 111 | 130 | 112 | 118 |
| Diluted EPS | $0.73 | $1.06 | $1.04 | $1.13 | $1.08 | $1.27 | $1.09 | $1.16 |
| EBITDA | 166 | 211 | 218 | 220 | 223 | 235 | 241 | 234 |
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