Filing Flows › DT Midstream (DTM) › Q1 2025
DT Midstream (DTM) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 30, 2025
DT Midstream (DTM) reported revenue of $303M for the first quarter 2025 (Q1 2025), +26% from a year earlier and +22% from the quarter before. Operating margin was 48.8%, net earnings $108M (35.6% of revenue).
DT Midstream, Q1 2025: revenue $303M (+26% year over year), operating margin 48.8%, net earnings $108M, operating cash flow $247M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $303M | +22% | +26% |
| Operating profit | $148M | +31% | +19% |
| Net earnings | $108M | +48% | +11% |
| Operating cash flow | $247M | +62% | +2% |
| Free cash flow | $176M | +184% | +23% |
What changed
Revenue was $303.0M in Q1 2025, up 26% year over year and up 22% from the previous quarter. Pipeline was the largest line at 56% of revenue. Pipeline added $62.0M year over year (up 58%), 98% of the total change.
Operating profit was $148.0M, a 48.8% margin (down 2.8 points year over year). Of the extra revenue versus a year earlier, 38% reached operating profit, below the 52% margin then. Total costs grew 34% against revenue growth of 26%. Net earnings were $108.0M, up 11% year over year. The effective tax rate was 24.0%.
Operating cash flow was $247.0M (up 2% year over year), 223% of net income including minority interests. Non-cash charges added back $63.0M of depreciation and amortization and $6.0M of share-based compensation. Working capital and other items added $67.0M. Capital expenditures of $71.0M left free cash flow of $176.0M.
Questions
What was DT Midstream's revenue in the first quarter 2025?
DT Midstream (DTM) reported revenue of $303M for the first quarter 2025 (Q1 2025), +26% from a year earlier and +22% from the quarter before.
Was DT Midstream profitable in the first quarter 2025?
Operating profit was $148M (48.8% of revenue) and net earnings $108M.
Source: DT Midstream 10-Q on SEC EDGAR.