07:41 AM EDT, 05/14/2024 (MT Newswires) -- Keyera ( KEYUF ) on Tuesday reported lower first quarter profit while cash flow from operating activities rose.

Net earnings fell to $71 million, or $0.31 per basic share, compared with $138 million, or $0.60 per basic share, last year.

Funds from operations came in at $232 million, compared with $247.3 million in last year's first quarter.

The company raised its 2024 guidance, noting that following the conclusion of the NGL contracting season, 2024 realized margin for the Marketing segment is expected to range between $430 million and $470 million (previous base guidance of $310 million to $350 million), including the impact of the 6-week AEF outage. This outlook reflects lower butane feedstock costs and the continued strength of the iso-octane business as demand for high octane gasoline blending products remains strong, Keyera ( KEYUF ) said.