12:05 PM EDT, 05/15/2025 (MT Newswires) -- (Updates shares.)

Keyera ( KEYUF ) on Thursday reported a jump in its first-quarter 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.

The company said it earned $130.3 million, or $0.57 per share, up $70.9 million, or $0.31, in the year-prior quarter and beating the $0.52 earnings per share consensus estimate compiled by FactSet.

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 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%.

Keyera ( KEYUF ) shares were last seen down $0.65 to $43.64 on the Toronto Stock Exchange.

Price: 43.65, Change: -0.64, Percent Change: -1.45