Keyera Corp. KEY-T reported a loss of $122-million in its latest quarter as it saw a large unrealized non-cash loss associated with risk management contracts.
The company says the loss amounted to 53 cents per share for the quarter ended March 31 compared with a profit of $130.3-million or 57 cents per share in the first quarter of 2025.
Distributable cash flow per share amounted to 44 cents, down from 83 cents per share a year earlier.
Revenue totalled $1.30-billion, down from $1.76-billion in the same quarter last year.
Earlier this week, Keyera closed its deal to buy the Canadian natural gas liquids business of U.S. firm Plains All American Pipeline LP PAA-Q despite a challenge launched by the federal competition regulator.
The Competition Bureau has applied to the Competition Tribunal to challenge the deal alleging it will likely harm energy producers and stifle investment, however the company disagrees with the regulator’s assertions.