Gibson Energy Maintained at Hold at TPH as Q4 Results Disappoint; Price Target at C$25.00

MT Newswires Live2025-02-19

Tudor, Pickering, Holt on Wednesday reiterated in hold rating on the shares of Gibson Energy (GEI.TO) with a C$25.00 price target after the oil infrastructure and marketing company reported weaker than expected fourth-quarter results.

"Negative. Yesterday after the close, GEI printed Q4 adjusted EBITDA of C$130MM, a significant miss to what TPHe (C$155MM) and the Street (C$151MM) were expecting. FY'24 adj. EBITDA came in at C$610MM, with TPH looking for C$635MM and the Street at C$629MM. The miss was largely attributable to the Marketing segment, where the company recorded a Q4 adj. EBITDA loss of C$5MM (TPHe C$14MM). GEI cited tighter crude diffs, crack spreads, and fewer market-based opportunities as the drivers. This weakness put FY'24 segment results (C$63MM) well below the guidance range of C$80-C$120MM," analyst AJ O'Donnell wrote.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 21.76, Change: -1.82, Percent Change: -7.72

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