06:25 AM EDT, 05/01/2025 (MT Newswires) -- AltaGas ( ATGFF ) , trading at 52 week highs, on Thursday reported slightly better-than-expected earnings for the first quarter while reiterating 2025 guidance and a "robust" long term growth outlook.

For Q1, the company reported normalized EPS of $1.15 in the first quarter of 2025 compared to $1.14 in the first quarter of 2024 and also a FactSet forecast of $1.14.

But GAAP EPS was $1.31 in the first quarter of 2025 compared to $1.38 in the first quarter of 2024.

Among highlights, AltaGas ( ATGFF ) posted record first-quarter global export volumes of 119,241 Bbl/d of liquified petroleum gases to Asia. The four percent year-over-year increase included shipments from 12 very large gas carriers from the Ridley Island Propane Export Terminal and seven VLGCs from the Ferndale Terminal.

Following this first quarter, the company is reiterating its 2025 full year guidance, including normalized EBITDA of $1,775 million to $1,875 million and normalized EPS of $2.10 to $2.30. AltaGas ( ATGFF ) is also reiterating its expectation of five to seven percent compounded annual growth rate guidance on dividends to 2029.

Vern Yu, President and Chief Executive Officer, said" "Our first quarter results reflect progress on our strategic priorities where we have de-risked our business, optimized our assets, and continued to pursue growth opportunities that will deliver long-term value for our stakeholders.

"Our diversified business and strong contract profile allowed AltaGas ( ATGFF ) to drive steady returns, despite the significant market volatility in the first quarter. Over the past five years, we have cut our commodity price exposure in half where today approximately 85% of AltaGas' ( ATGFF ) normalized EBITDA is now comprised of cost-of-service, take-or-pay and fee-for-service contracts.

"Our Utilities delivered a strong first quarter. The combination of strong retail performance, colder temperatures relative to 2024, further cost management, significant investments in pipeline modernization programs, and asset optimization activities all contributed to this performance. We continue to focus on delivering the best outcomes for all stakeholders by delivering the lowest possible cost to our customers.

"Our Midstream business produced another quarter of strong operational execution with record first quarter global export volumes to Asia, ensuring more Canadian production realizes premium global prices. Our gas processing volumes were up 11% year-over-year, led by our Montney and Northeastern B.C. footprint. While the recent commodity price volatility has created some uncertainty for select upstream development, we believe our assets will continue to realize strong forward growth through this market volatility.

"Strong commercial success for the first phase of REEF has allowed us to accelerate the regulatory and engineering work for its next phases. Demand for capacity at REEF highlights the importance of building energy infrastructure that connects Canadian energy to premium global markets.

"Our long-term strategy of having a diversified business mix provides steady and ratable earnings growth for our shareholders. Our unique ability to connect Western Canada's growing energy supply to premium demand markets in Asia will increase in value over time."

ALA rose $0.11 to $40.80 on the TSX yesterday.