06:48 AM EST, 03/08/2024 (MT Newswires) -- AltaGas Ltd. ( ATGFF ) on Friday reported fourth-quarter 2023 normalized net income of $214 million, or $0.75 per share, up from $189 million, or $0.67 per share, in the year-ago quarter.

Normalized EBITDA for the quarter came in at $502 million, up from $454 million in the prior-year period.

The company reiterated its 2024 full year guidance of $1.675 billion to $1.775 billion for normalized EBITDA and $2.05 to $2.25 for normalized EPS.

"Fourth quarter Midstream performance was strong with normalized EBITDA up 12 percent year-over-year, despite delays on two LPG export vessels that had loadings pushed into the first quarter of 2024," said Vern Yu, president and CEO of AltaGas ( ATGFF ). "Canadian upstream development remains strong as the industry prepares for improved egress and the arrival of LNG Canada."

As a result, AltaGas ( ATGFF ) realized higher year-over-year throughput volumes across its gas processing, fractionation and liquids handling businesses during the fourth quarter of 2023, Yu said.