ALTAGAS REPORTS STRONG FIRST QUARTER 2023 RESULTS

Contributing sentiments towards policy:

53% : The Utilities segment reported normalized EBITDA of $401 million in the first quarter of 2023 compared to $408 million in the first quarter of 2022, while income before taxes was $590 million in the first quarter of 2023 compared to $426 million in the first quarter of 2022.
51% : Midstream The Midstream segment reported normalized EBITDA of $183 million in the first quarter of 2023 compared to $174 million in the same quarter of 2022, while income before income taxes was $138 million in the first quarter of 2023 compared to $159 million in the same quarter of 2022.
51% : Income before income taxes was $619 million for the first quarter of 2023 compared to $504 million for the same quarter in 2022.
49% : EBITDA is calculated from the Consolidated Statements of Income using income before income taxes adjusted for pre-tax depreciation and amortization, interest expense.
48% : Please refer to the Three Months Ended March 31 Section of the MD&A for further details on the variance in income before income taxes and net income applicable to common shareholders.
38% : The Corporate/Other segment reported a normalized EBITDA loss of $2 million in the first quarter of 2023 compared to a loss of $8 million in the same quarter of 2022 while income loss before taxes was a loss of $109 million in the first quarter of 2023 compared to a loss of $81 million in the first quarter of 2022.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. Bias scores are on a scale of -100% to 100% with higher negative scores being more liberal and higher positive scores being more conservative, and 0% being neutral. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization.