Mission Statement, Vision, & Core Values (2024) of DT Midstream, Inc. (DTM).

An Overview of DT Midstream, Inc. (DTM)

General Overview of DT Midstream, Inc. (DTM)

DT Midstream, Inc. is a leading natural gas infrastructure company based in the United States. Established as a spin-off from DTE Energy in 2020, DT Midstream focuses on the transportation and storage of natural gas, primarily through its extensive pipeline network. The company operates in two primary segments: Pipeline and Gathering. The Pipeline segment includes interstate and intrastate pipelines, while the Gathering segment encompasses gas gathering systems that collect natural gas from production sites.

As of 2024, DT Midstream reported operating revenues of $732 million for the nine months ended September 30, 2024, compared to $678 million for the same period in 2023. The company continues to expand its market presence, driven by increasing demand for natural gas and strategic investments in infrastructure.

Company's Financial Performance in Latest Financial Reports

In the third quarter of 2024, DT Midstream reported operating revenues of $248 million, a slight increase from $244 million in the previous quarter. For the nine months ended September 30, 2024, the revenue increased by $54 million compared to the same period in 2023, reflecting strong performance across both segments.

Net income attributable to DT Midstream for the third quarter of 2024 was $88 million, with diluted earnings per share of $0.90. For the nine months ended September 30, 2024, net income increased to $281 million, compared to $263 million in the prior year. The following table summarizes the financial performance by segment:

The increase in revenues was primarily driven by new contracts and expansions in the Haynesville System, contributing an additional $46 million in revenues for the nine-month period. Operating expenses also rose, with total operational costs for the Pipeline segment reaching $48 million for the nine months ended September 30, 2024.

Introduction to Company as One of the Leading Companies in the Industry

DT Midstream is recognized as one of the leaders in the midstream natural gas sector, leveraging its extensive network and strategic positioning to capitalize on the growing demand for natural gas. The company is committed to operational excellence, sustainability, and maintaining strong customer relationships, which contribute to its competitive edge in the industry.

As of September 30, 2024, DT Midstream had approximately $1.1 billion in available liquidity, providing a robust foundation for future growth initiatives and capital expenditures. The company's focus on disciplined capital deployment and the pursuit of environmentally responsible opportunities underscores its long-term strategic vision.

For those interested in understanding the factors behind DT Midstream's success and its plans for future growth, further insights can be found in the subsequent sections.

Mission Statement of DT Midstream, Inc. (DTM)

Mission Statement Overview

The mission statement of DT Midstream, Inc. (DTM) serves as a guiding framework for the company's strategic objectives and operational practices. It encapsulates the essence of the organization’s goals, emphasizing its commitment to safety, reliability, and environmental stewardship within the natural gas sector.

Core Components of the Mission Statement

1. Safety and Reliability

DT Midstream prioritizes safety and reliability in its operations. The company aims to maintain a robust safety culture that ensures the welfare of its employees and stakeholders. In 2024, the company reported a significant reduction in incident rates, achieving a Total Recordable Incident Rate (TRIR) of 0.5, down from 0.7 in the previous year. This reflects DT Midstream’s commitment to enhancing operational safety standards and minimizing workplace hazards.

2. Commitment to Environmental Stewardship

DT Midstream is dedicated to sustainable practices that mitigate environmental impact. The company has set a goal to achieve net zero carbon emissions by 2050. As part of this initiative, DT Midstream has invested over $200 million in carbon capture and storage technologies in recent years. The company also reported a 10% reduction in greenhouse gas emissions year-over-year, aligning with industry benchmarks for sustainability.

3. Customer-Centric Approach

DT Midstream emphasizes exceptional service delivery to its customers. The company operates under long-term contracts that provide financial stability and predictability. For the nine months ended September 30, 2024, DT Midstream reported operating revenues of $732 million, an increase from $678 million during the same period in 2023. This growth is attributed to new contracts and expansions within its pipeline systems, such as the Haynesville System (LEAP), which contributed an additional $46 million in revenue.

DT Midstream's mission statement encapsulates its strategic focus on safety, environmental responsibility, and customer service excellence, reinforcing its position as a leader in the midstream natural gas sector.

Vision Statement of DT Midstream, Inc. (DTM)

Vision Statement Overview

DT Midstream, Inc. (DTM) envisions a future where they lead in the natural gas midstream sector by providing safe, reliable, and sustainable energy solutions. Their vision emphasizes the integration of advanced technologies and environmentally responsible practices to deliver exceptional value to stakeholders.

Commitment to Sustainability

DT Midstream aims to achieve net zero carbon emissions by 2050. The company is dedicated to operating its assets in a sustainable manner, incorporating greenhouse gas (GHG) reducing technologies into their operations. This commitment aligns with broader industry trends towards environmental stewardship and sustainability.

Customer-Centric Approach

The vision statement reflects a strong commitment to providing exceptional service to customers. This includes a focus on developing long-term relationships and understanding customer needs to deliver tailored solutions. DTM serves a diverse clientele that includes natural gas producers, local distribution companies, and electric power generators.

Financial Performance and Growth

In 2024, DT Midstream reported operating revenues of $732 million for the nine months ended September 30, 2024, compared to $678 million for the same period in 2023. The company’s net income attributable to DT Midstream was $281 million for the nine months ended September 30, 2024, reflecting an increase from $263 million in the prior year. This growth underscores the effectiveness of their vision-driven strategy in enhancing financial performance.

Capital Deployment Strategy

DT Midstream’s vision includes disciplined capital deployment focused on assets supported by strong fundamentals. The company anticipates total capital expenditures of approximately $380 million to $410 million for the year ending December 31, 2024. This strategic investment is aimed at expanding their operational capabilities and enhancing service delivery.

Technological Integration

The integration of advanced technologies is a cornerstone of DT Midstream's vision. The company is focused on capitalizing on asset integration and optimization opportunities to improve efficiency and reduce operational costs. This technological emphasis supports their goal of providing reliable energy solutions while minimizing environmental impact.

Long-Term Growth Outlook

DT Midstream's vision statement reflects a strong outlook for long-term growth, supported by firm revenue contracts with customers. Their commitment to growing cash flows and enhancing shareholder value is evident through regular dividend payments, with a quarterly dividend of $0.735 per share announced for payment on January 15, 2025.

Core Values of DT Midstream, Inc. (DTM)

Integrity

Integrity is a foundational core value at DT Midstream, Inc. (DTM), emphasizing honesty and transparency in all operations. This commitment is essential for maintaining trust with customers, stakeholders, and employees.

DT Midstream has demonstrated its integrity through various initiatives, including:

• Implementation of comprehensive ethics training programs for employees, ensuring adherence to corporate governance and ethical standards.
• Regular audits and compliance checks aimed at maintaining operational transparency and accountability.
• Publicly reporting on sustainability practices and environmental impact, reinforcing its commitment to responsible business practices.

Safety

Safety is paramount in DT Midstream’s operations, reflecting its dedication to protecting employees, the environment, and the communities in which it operates. This core value is integrated into every aspect of the company's operations.

Specific examples of DT Midstream's commitment to safety include:

• Investment of over $15 million in safety training and equipment in 2024 to enhance the safety protocols across all operational sites.
• Achieving a 98% safety compliance rate in inspections and audits conducted throughout the year.
• Launching a new safety initiative aimed at reducing workplace incidents by 25% over the next two years.

Excellence

Excellence drives DT Midstream to deliver superior services and solutions in the midstream sector. This value fosters a culture of continuous improvement and high performance.

DT Midstream demonstrates excellence through:

• Achieving a net income attributable to DT Midstream of $281 million for the nine months ended September 30, 2024, compared to $263 million in the same period in 2023, reflecting a strong operational performance.
• Operating revenues of $732 million for the nine months ended September 30, 2024, representing an increase from $678 million in the prior year.
• Ongoing investments in technology and infrastructure, including a $12 million acquisition of clean fuels gathering assets to enhance operational efficiency and service quality.

Collaboration

Collaboration is vital for fostering teamwork and enhancing relationships with stakeholders. DT Midstream values partnerships that drive mutual success.

Examples of collaboration at DT Midstream include:

• Forming strategic alliances with local producers to optimize gas gathering and transportation, effectively increasing throughput and efficiency.
• Engaging with community stakeholders in environmental initiatives, such as reducing greenhouse gas emissions and promoting sustainable practices.
• Hosting annual stakeholder meetings to gather feedback and foster open communication, thereby enhancing operational partnerships.

Innovation

Innovation is a core value that propels DT Midstream forward, encouraging the adoption of new technologies and practices that enhance service delivery and operational efficiency.

DT Midstream's commitment to innovation is evident through:

• Investment in advanced data analytics tools to optimize pipeline operations and predictive maintenance, reducing downtime and operational costs.
• Development of new carbon offset initiatives, aligning with the company's goal to achieve net zero carbon emissions by 2050.
• Implementation of a new digital platform for real-time monitoring of pipeline integrity, enhancing safety and operational responsiveness.

Article updated on 8 Nov 2024

Resources:

• DT Midstream, Inc. (DTM) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of DT Midstream, Inc. (DTM)' financial performance, including balance sheets, income statements, and cash flow statements.
• SEC Filings – View DT Midstream, Inc. (DTM)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.