05:25 PM EDT, 08/08/2024 (MT Newswires) -- Pembina Pipeline ( PBA ) on Thursday said its second-quarter profit rose 32%, buoyed by increased revenues, as the company raised full-year guidance.

The Western Canadian oil and gas infrastructure and processing company said it earned $479 million, or $0.75 per share, in the period. up from $363 million, or $0.60, a year earlier and met the consensus analyst estimate, according to Capital IQ.

Revenue rose 30% to $1.86 billion from $1.42 billion.

Pembina raised its 2024 adjusted EBITDA guidance range to $4.20 billion to $4.35 billion from $4.05 billion to $4.30 billion. In addition, the 2024 capital investment program has been revised to $1.3 billion, including approximately $0.3 billion of contributions to equity accounted investees.

The revised outlook for 2024 primarily reflects a higher contribution from the natural-gas liquids marketing business, an incremental contribution from the Aux Sable fractionation plant following the Williams Acquisition, a higher contribution from PGI and higher volumes on Nipisi pipeline system. as well as and lower corporate segment costs.

Pembina shares were little changed in US after-hours trading. They closed up $0.32 to $52.99 on the Toronto Stock Exchange.