GET DAILY SIGNALSPembina Pipeline Corporation (PBA) Reports +99% Net Earnings Growth in Q3 2026
Key Takeaways
- Pembina Pipeline Corporation reported third-quarter 2026 net earnings of $570 million, up 99% from $286 million in the same period a year earlier.
- Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) rose 9% year over year to $1,128 million.
- The company raised the lower end of its 2026 adjusted EBITDA guidance to $4.45 billion to $4.55 billion, up from a prior range of $4.35 billion to $4.55 billion.
- Marketing & New Ventures adjusted EBITDA climbed 69%, reflecting stronger NGL (natural gas liquids) margins and premium propane prices in Asian markets.
- Construction of the Cedar LNG floating vessel was more than 77% complete at quarter-end, a key growth milestone for the company.
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Putting the Results in Context
Pembina Pipeline Corporation (PBA) is a leading North American energy transportation and midstream services provider, operating an integrated network of hydrocarbon liquids and natural gas pipelines, gathering and processing facilities, and export terminals. Its quarterly results offer investors a direct read on Western Canadian energy volumes and the health of the broader midstream sector. This report carries added weight because it arrives during a period of elevated commodity-price volatility and rising global demand for Canadian energy exports. With several large growth projects, including Cedar LNG and Pacific Link, advancing through development, the quarter also serves as a checkpoint on execution and capital discipline. Investors were watching closely for margin trends, volume growth, and any revisions to full-year guidance. I also checked this using Tickeron’s AI Screener to see how the stock compares to others in the industry.
A Closer Look at the Numbers
PBA reported third-quarter 2026 net earnings of $570 million, a 99% increase from $286 million in the prior-year period. On a per-share basis, earnings reached C$0.92, up from C$0.43 a year earlier. Revenue totaled $2.18 billion, rising from $1.79 billion in the same quarter of 2025.
Adjusted EBITDA came in at $1,128 million, up $94 million, or 9%, year over year. The improvement was driven primarily by higher NGL margins, reflecting exposure to premium propane prices in Asian markets through West Coast exports, as well as stronger operational performance and volumes across the Pipelines and Facilities divisions. These gains were partially offset by the new toll structure and revenue-sharing mechanism on the Alliance Pipeline that took effect in late 2025.
By segment, Pipelines adjusted EBITDA was $606 million (down 4%), Facilities contributed $400 million (up 13%), and Marketing & New Ventures delivered $167 million (up 69%). Management also raised its full-year outlook, narrowing the 2026 adjusted EBITDA range to $4.45 billion to $4.55 billion and noting it is currently trending toward the upper end.
How the Market Is Responding
Pembina released its third-quarter results after the market close on November 5, 2026, with its conference call scheduled for the following morning. Because the report came after the close, the full market reaction is still taking shape and will likely be shaped by management's commentary on the call, particularly around guidance and the pace of project execution. The guidance increase and the near-doubling of net earnings are generally viewed as supportive signals, while the modest year-over-year decline in Pipelines adjusted EBITDA reflects the previously disclosed Alliance Pipeline toll changes. Investors will also be weighing the company's participation in the proposed Pacific Link crude oil pipeline and its growing exposure to data-center-driven natural gas demand through the Greenlight Electricity Centre.
Looking Ahead
Looking ahead, investors should track several factors tied to Pembina's updated guidance and growth pipeline. Management now expects 2026 adjusted EBITDA of $4.45 billion to $4.55 billion, with performance currently trending toward the upper end. The final quarter will be influenced by seasonality in the frac spread business, colder-weather volumes on the Alliance and Cochin pipelines, and the U.S./Canadian dollar exchange rate.
Commodity prices remain a central variable. Pembina has hedged roughly 75% of its North American NGL frac spread exposure while retaining exposure to international prices, which should provide some stability against volatility. Higher interruptible volumes and favorable price differentials could also support near-term results.
On the growth front, Cedar LNG remains a key catalyst, with the floating vessel more than 77% complete and 2026 expected to be the project's largest single capital investment year. The recently sanctioned Greenlight Electricity Centre and the company's 10% economic interest in the Pacific Link project underscore a broader push into contracted, long-duration demand. Execution, cost discipline, and regulatory progress on these initiatives will be important watch items for investors in the quarters ahead.
My Go-To Research Tool
In my research process, I regularly use Tickeron’s AI Screener to filter energy and midstream names by fundamentals, patterns, and performance metrics. It helps surface comparable opportunities efficiently and adds useful context when evaluating names like PBA alongside sector peers.
Disclaimer
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Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
PBA saw its Stochastic Oscillator leaves the overbought zone
The Stochastic Oscillator for PBA moved out of overbought territory on November 03, 2026. This could be a bearish sign for the stock and investors may want to consider selling or taking a defensive position. A.I.dvisor looked at 70 similar instances where the indicator exited the overbought zone. In 35 of the 70 cases the stock moved lower. This puts the odds of a downward move at 50%.
Technical Analysis (Indicators)
Bearish Trend Analysis
The 10-day RSI Indicator for PBA moved out of overbought territory on November 02, 2026. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 44 similar instances where the indicator moved out of overbought territory. In 19 of the 44 cases, the stock moved lower in the following days. This puts the odds of a move lower at 43%.
The Momentum Indicator moved below the 0 level on November 03, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on PBA as a result. In 38 of 86 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 44%.
The Moving Average Convergence Divergence Histogram (MACD) for PBA turned negative on November 04, 2026. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 48 similar instances when the indicator turned negative. In 19 of the 48 cases the stock turned lower in the days that followed. This puts the odds of success at 40%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where PBA declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 48%.
Bullish Trend Analysis
PBA moved above its 50-day moving average on October 09, 2026 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for PBA crossed bullishly above the 50-day moving average on October 16, 2026. This indicates that the trend has shifted higher and could be considered a buy signal. In 5 of 19 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 26%.
Following a +2.60% 3-day Advance, the price is estimated to grow further. Considering data from situations where PBA advanced for three days, in 196 of 366 cases, the price rose further within the following month. The odds of a continued upward trend are 54%.
PBA may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In 146 of 304 cases where PBA Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 48%.
Fundamental Analysis (Ratings)
The Tickeron Profit vs. Risk Rating rating for this company is 35 (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 44, placing this stock slightly better than average.
The Tickeron Price Growth Rating for this company is 42 (best 1 - 100 worst), indicating steady price growth. PBA’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is 50 (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron SMR rating for this company is 67 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of 70 (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.848) is normal, around the industry mean (142.313). P/E Ratio (17.098) is within average values for comparable stocks, (7.430). Projected Growth (PEG Ratio) (1.696) is also within normal values, averaging (13.660). Dividend Yield (0.043) settles around the average of (139204411392.000) among similar stocks. P/S Ratio (4.787) is also within normal values, averaging (4.657).
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General Information
a provider of energy transportation and midstream services
Industry OilGasPipelines
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