07:04 AM EDT, 05/15/2025 (MT Newswires) -- Keyera ( KEYUF ) on Thursday reported a jump in first-quarter net earnings that beat analyst estimates, driven by strong quarterly contributions from the gathering and processing segment and near-record contributions from the liquids infrastructure segment.

Net earnings came in at $130.3 million, or $0.57 per share, compared with $70.9 million, or $0.31 per share, and beating the $0.52 earnings per share consensus estimate compiled by FactSet.

Adjusted EBITDA also decreased to $298.4 million from $314.3 million.

For the full year 2025, growth capital expenditures are expected to be between $300 million and $330 million, while maintenance capital expenditures are forecast to be in a range of $70 million to $90 million.

The company said it has sanctioned the 47,000 barrel-per-day KFS Frac III project, a major expansion of its core fractionation hub in Fort Saskatchewan. The project is expected to cost $500 million and enter service in mid-2028.

The project, along with the previously sanctioned KFS Fracking II debottleneck project, will increase Keyera's ( KEYUF ) total fractionation capacity by about 60%.