Management remarks
Call period: 2026 Q2 · 2026-08-03
Demand and orders: Chad Zamarin: Delta Access is expandable to up to 3.5 Bcf per day and is underpinned by capacity commitments from customers representing both LNG and power demand along the Louisiana Gulf Coast.Analyst Q&A
Analyst Praneeth Satish asked: Maybe John, going back to your comments. So the EBITDA CAGR here was increased to 11% from 10% 5-year EBITDA CAGR. I guess if we just simply layer in EBITDA from Momentum and Delta Express (sic) [ Delta Access, ] I mean, it seems like on our math, those projects alone would add 200 basis points to the CAGR, take it up to 12%. So I'm just -- is that 11% target incorporating a degree of conservatism? Management John Porter answered: And so we're excluding the commercialization of any additional power or pipes projects, which you're aware of the extensive backlog we've got in both the power side and the pipes projects. And I would say we also do continue to have a degree of conservatism across a pretty broad swath of all of the other parts of the business that we're working on as well, including the Northeast, which is over $2 billion of EBITDA today. And we're continuing to be pretty conservative in terms of how we're modeling the growth in some of those areas.管理层陈述
电话会期间：2026 Q2 · 2026-08-03
需求与订单：查德·扎马林表示，Delta Access可扩展至每日35亿立方英尺，其支撑为路易斯安那州墨西哥湾沿岸涉及液化天然气和电力需求的客户的产能承诺。分析师问答
分析师普拉尼特·萨蒂什提问：约翰，刚才提到5年期EBITDA复合年增长率从10%上调至11%。如果仅计入Momentum和Delta Access项目带来的EBITDA，我们测算这些项目将使复合年增长率增加200个基点至12%，请问11%的目标是否考虑了保守性？管理层约翰·波特回答：我们未计入任何额外电力或管道项目的商业化，你们也知道我们在电力和管道项目上有大量积压订单。同时，我们仍对业务其他诸多板块保持保守预估，包括目前EBITDA达20亿美元的东北部业务，我们在该区域的增长建模上仍持谨慎态度。
