Fourth Quarter and Full-Year 2018 Results

On February 28, we reported our fourth quarter and full-year 2018 results and reaffirmed our 2019 outlook and balanced funding plan. In sum, 2018 was a transformative year for AltaGas. The acquisition of WGL helps reposition us as a low-risk, high-growth Utility and Midstream company. The unique, integrated value proposition we have established with our Midstream business, paired with the regulated, low-risk cash flows of our Utilities have established a solid foundation for growth in the years ahead.

"With our RIPET project coming online, as scheduled in early spring, as the first propane export terminal in Western Canada, we are poised to execute on our strategy to leverage this unique capability to attract new producer commitments that will increase utilization of our existing assets and provide new organic investment opportunities. At the same time, I see ample opportunity in our Utilities to renew and extend our distribution pipelines and drive higher returns through operational efficiencies, superior customer service and accelerated rate recovery mechanisms."
Randy Crawford, President and Chief Executive Officer

AltaGas achieved normalized EBITDA of $394 million for the fourth quarter of 2018 and $1.0 billion for the full-year 2018, representing 27 percent year-over-year growth for the year ended December 31, 2018. Normalized Funds from Operations (FFO) of $255 million for the fourth quarter of 2018 and $657 million for the year ended December 31, 2018 represented an increase of approximately 7 percent for full-year 2018.

Additional highlights from 2018 include:

  • Approximately $1.0 billion in growth capital projects anticipated to come into service in 2019 including the Ridley Island Propane Export Terminal (RIPET), Townsend 2B Facility, Nig Creek Gas Plant, Mountain Valley Pipeline and the Marquette Connector Pipeline.
  • Advanced AltaGas’ cornerstone asset in Midstream – RIPET – the first propane export terminal off the west coast of Canada, commencing operations in early spring.
  • Leveraged and extended AltaGas’ footprint in northeast British Columbia, resulting in the Midstream business increasing core gas processing volumes by 25%. 
  • Agreements with Black Swan and Kelt enhanced Midstream’s NGL capture area, triggering an expansion of the North Pine facility, and supporting the supply of propane at RIPET.
  • Recovered US$125 million through accelerated replacement programs in Washington, DC, Maryland, Michigan and Virginia.

For more on our fourth quarter and full-year 2018 results, read our full news release or join our conference call and webcast. Shortly after the conclusion of the call, a replay will be available commencing at 2:00 p.m. MT (4:00 p.m. ET) on February 28, 2019 by dialing 403-451-9481 or toll free 1-855-859-2056. The passcode is 2068746. The replay will expire at 9:59 p.m. MT (11:59 p.m. ET) on March 7, 2019. The webcast will be archived for one year.


Conference Call and Webcast Details


February 28, 2019


9:00 a.m. MT (11:00 a.m. ET)

Dial-in: 1-647-427-7450 or toll free at 1-888-231-8191 
Webcast: Join the webcast
News Release: Read more
Presentation: View


Webcast and Conference Call Presenters

Photo of Randy

Randy Crawford, our President and Chief Executive Officer, summarizes the 2018 operational achievements in both our Midstream and Utilities segments, and outlines our strategic priorities for 2019. 

Randy Crawford

President and Chief Executive Officer





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Our Executive Vice President and Chief Financial Officer, Tim Watson, provides a detailed review of our 2018 financial results and our 2019 outlook.

Tim Watson (CFA, ICD.D)

Executive Vice President and Chief Financial Officer






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Slides from the presentation


Find answers to frequently asked investor questions.

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