Jun 2026 (Q2 FY26) — Jul 30, 2026
DT Midstream Q2 FY26 — Strong Organic Growth and Backlog Commercialization
Read the full callDT Midstream (DTM) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
DT Midstream earnings: last reported Thu, 30 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 343 | +11.0% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 50.4 | +0.3 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 112 | +4.7% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Price
$118.81 −3.66% · −$4.52
Performance +8.0% 1Y
1Y: $109.97 on 14 Oct 2025 → $118.81. High $151.12 (22 May 2026), low $105.61 (24 Oct 2025).
- Previous close
- $123.33
- 52-week range
- $105.61 – $151.12
- One year
- +6.24%
Overview
- Symbol
- DTM
- Sector
- Energy
- Exchange
- US
- Currency
- USD
Call summaries
Mar 2026 (Q1 FY26) — Apr 30, 2026
DT Midstream Q1 FY26 — Strong Project Backlog and Strategic Expansions Drive Confidence
Read the full callEvery analysed call
DT Midstream earnings calls (DTM)
Financials
What the filings say
Net profit, year on year: +5% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 248 | 249 | 303 | 309 | 314 | 317 | 336 | 343 |
| Operating profit | 122 | 113 | 148 | 155 | 155 | 156 | 166 | 173 |
| Operating margin | 49.2% | 45.4% | 48.8% | 50.2% | 49.4% | 49.2% | 49.4% | 50.4% |
| Interest | 38 | 36 | 40 | 40 | 40 | 41 | 40 | 42 |
| Profit before tax | 121 | 119 | 146 | 145 | 153 | 154 | 170 | 169 |
| Tax rate | 24.8% | 36.1% | 24.0% | 23.4% | 22.9% | 26.0% | 21.2% | 31.4% |
| Net profit | 88 | 73 | 108 | 107 | 115 | 111 | 130 | 112 |
| EPS ($ per share) | 0.91 | — | 1.07 | 1.05 | 1.14 | — | 1.28 | 1.10 |
| Line item | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|
| Equity capital | — | — | 1 | 1 | 1 | 1 | 1 |
| Reserves | — | 751 | 431 | 547 | 661 | 723 | 827 |
| Total liabilities | 4,063 | 4,114 | 4,145 | 4,679 | 4,702 | 5,169 | 5,202 |
| Fixed assets | — | 3,470 | 3,490 | 3,806 | 4,434 | 5,527 | 5,766 |
| Total assets | 7,787 | 8,342 | 8,166 | 8,833 | 8,982 | 9,935 | 10,080 |
| Line item | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|
| Cash from operations | 390 | 597 | 572 | 725 | 798 | 763 | 867 |
| Cash from investing | -2,561 | -714 | 123 | -854 | -351 | -1,081 | -372 |
| Cash from financing | 2,191 | 113 | -605 | 58 | -452 | 330 | -509 |
| Net cash flow | 20 | -4 | 90 | -71 | -5 | 12 | -14 |
| Capital expenditure | -211 | -518 | -140 | -338 | -772 | -350 | -426 |
| Free cash flow | 179 | 79 | 432 | 387 | 26 | 413 | 441 |
DTM revenue by segment
Pipeline grew from 45% to 55% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Pipeline | 45% | 46% | 56% | 57% | 54% | 55% | 55% | 53% | +4.0% |
| Gathering | 55% | 54% | 44% | 43% | 46% | 45% | 46% | 49% | +26.3% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
DTM operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Project backlog | $3.4BWe continue to advance organic opportunities from our $3.4 billion project backlog in a very strong market environment that supports our future growth.Source: earnings call transcript | $3.4BWith today's announcements, we have now commercialized 60% of our $3.4 billion organic project backlog with more than 80% of this being committed to pipeline projects.Source: earnings call transcript | 0% |
| Capital expenditures Growth | $72MGrowth capital investment for the first quarter was $72 million, which is in line with our plan, and we expect a ramp in growth capital weighted towards the second half of this year.Source: earnings call transcript | $86MGrowth capital investment for the second quarter was $86 million, which is in line with our plan and we expect a ramp in growth capital over the balance of this year.Source: earnings call transcript | +19.4% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
34 filings between Feb 1, 2026 and Aug 7, 2026.
Open market
decisions to buy or sellPurchases
$265.7K
4 purchases by 2 insiders
Sales
$271.9K
1 sale by 1 insider
Compensation
not trading decisions- 6
- Award — granted as compensation
- 9
- Option exercise — converted options into shares
- 14
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Tumminello Peter I | — | $271.9K | Feb 26, 2026 |
| Pickle Elaine M | $198.9K | — | Aug 7, 2026 |
| Jewell Jeffrey A | $66.8K | — | Aug 5, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 7, 2026 | Pickle Elaine M Director | Purchase | 1,500 | $198.9K |
| Aug 5, 2026 | Jewell Jeffrey A Executive V.P., CFO | Purchase | 145 | $19.4K |
| May 15, 2026 | Jewell Jeffrey A Executive V.P., CFO | Purchase | 150 | $22.2K |
| May 6, 2026 | Archon Angela N Director | Option exercise | 1,178 | — |
| May 4, 2026 | Jewell Jeffrey A Executive V.P., CFO | Tax withheld | 16,109 | $2.23M |
| May 4, 2026 | Jewell Jeffrey A Executive V.P., CFO | Option exercise | 16,109 | — |
| Mar 5, 2026 | Finland Joseph Peter Chief Accounting Officer | Option exercise | 1,033 | — |
| Mar 5, 2026 | Finland Joseph Peter Chief Accounting Officer | Tax withheld | 412 | $58.4K |
| Feb 26, 2026 | Tumminello Peter I Director | Sale | 2,002 | $271.9K |
| Feb 25, 2026 | Jewell Jeffrey A Executive V.P., CFO | Purchase | 185 | $25.2K |
| Feb 17, 2026 | Finland Joseph Peter Chief Accounting Officer | Award | 1,500 | $0 |
| Feb 17, 2026 | Zona Christopher President and Chief Oper. Off. | Tax withheld | 16,814 | $2.23M |
| Feb 17, 2026 | Zona Christopher President and Chief Oper. Off. | Award | 36,731 | $0 |
| Feb 17, 2026 | Cox Melissa E.V.P., Chief Admin. Off. | Award | 11,019 | $0 |
| Feb 17, 2026 | Cox Melissa E.V.P., Chief Admin. Off. | Tax withheld | 5,240 | $695.1K |
| Feb 17, 2026 | Finland Joseph Peter Chief Accounting Officer | Tax withheld | 640 | $84.9K |
| Feb 17, 2026 | Jewell Jeffrey A Executive V.P., CFO | Tax withheld | 15,919 | $2.11M |
| Feb 17, 2026 | Slater David Exec. Chair and CEO | Tax withheld | 63,190 | $8.38M |
| Feb 17, 2026 | Jewell Jeffrey A Executive V.P., CFO | Award | 35,628 | $0 |
| Feb 17, 2026 | Ellis Wendy E.V.P., Gen Counsel & Corp Sec | Tax withheld | 10,324 | $1.37M |
| Feb 17, 2026 | Ellis Wendy E.V.P., Gen Counsel & Corp Sec | Award | 21,597 | $0 |
| Feb 17, 2026 | Slater David Exec. Chair and CEO | Award | 135,165 | $0 |
| Feb 1, 2026 | Jewell Jeffrey A Executive V.P., CFO | Tax withheld | 2,326 | $293.1K |
| Feb 1, 2026 | Jewell Jeffrey A Executive V.P., CFO | Option exercise | 7,635 | — |
| Feb 1, 2026 | Ellis Wendy E.V.P., Gen Counsel & Corp Sec | Tax withheld | 2,267 | $285.7K |
| Feb 1, 2026 | Ellis Wendy E.V.P., Gen Counsel & Corp Sec | Option exercise | 4,629 | — |
| Feb 1, 2026 | Cox Melissa E.V.P., Chief Admin. Off. | Tax withheld | 1,179 | $148.6K |
| Feb 1, 2026 | Zona Christopher President and Chief Oper. Off. | Tax withheld | 2,808 | $353.9K |
| Feb 1, 2026 | Cox Melissa E.V.P., Chief Admin. Off. | Option exercise | 2,362 | — |
| Feb 1, 2026 | Finland Joseph Peter Chief Accounting Officer | Option exercise | 321 | — |
| Feb 1, 2026 | Zona Christopher President and Chief Oper. Off. | Option exercise | 7,872 | — |
| Feb 1, 2026 | Finland Joseph Peter Chief Accounting Officer | Tax withheld | 145 | $18.3K |
| Feb 1, 2026 | Slater David Exec. Chair and CEO | Tax withheld | 12,382 | $1.56M |
| Feb 1, 2026 | Slater David Exec. Chair and CEO | Option exercise | 28,965 | — |
| Aug 11, 2025 | Cox Melissa E.V.P., Chief Admin. Off. | Sale | 4,755 | $496.8K |
| Aug 7, 2025 | Jewell Jeffrey A Executive V.P., CFO | Purchase | 150 | $15.7K |
| Aug 2, 2025 | Tumminello Peter I Director | Option exercise | 1,443 | — |
| Aug 2, 2025 | Slater David President and CEO | Tax withheld | 23,898 | $2.52M |
| Aug 2, 2025 | Slater David President and CEO | Option exercise | 51,950 | — |
| Aug 2, 2025 | Jewell Jeffrey A Executive V.P., CFO | Tax withheld | 28,861 | $3.05M |
| Aug 2, 2025 | Jewell Jeffrey A Executive V.P., CFO | Option exercise | 28,861 | — |
| Aug 2, 2025 | Cox Melissa E.V.P., Chief Admin. Off. | Tax withheld | 2,041 | $215.6K |
| Aug 2, 2025 | Cox Melissa E.V.P., Chief Admin. Off. | Option exercise | 2,597 | — |
| Aug 2, 2025 | Baker Stephen W Director | Option exercise | 1,443 | — |
| Aug 2, 2025 | Wilson Dwayne Andree Director | Option exercise | 1,443 | — |
| Aug 2, 2025 | Pickle Elaine M Director | Option exercise | 1,443 | — |
| Aug 2, 2025 | Zona Christopher E.V.P., Chief Oper. Off. | Tax withheld | 9,915 | $1.05M |
| Aug 2, 2025 | Zona Christopher E.V.P., Chief Oper. Off. | Option exercise | 21,646 | — |
| Aug 2, 2025 | Ellis Wendy E.V.P., Gen Counsel & Corp Sec | Tax withheld | 7,728 | $816.2K |
| Aug 2, 2025 | Ellis Wendy E.V.P., Gen Counsel & Corp Sec | Option exercise | 14,431 | — |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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