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Tidewater Surges on Record EBITDA

16 Aug

Summary

Record adjusted EBITDA of C$88.9 million achieved in the second quarter.
Renewable diesel complex operated above nameplate capacity.
Sustainable aviation fuel project targets Q4 investment decision.

Tidewater Midstream and Infrastructure achieved a new quarterly record, reporting consolidated adjusted EBITDA of C$88.9 million for the second quarter of 2026. This substantial increase was fueled by robust performance in refining and renewable diesel markets, alongside improved facility utilization and a strengthened balance sheet through debt reduction.

The company's Tidewater Renewables segment, including its Prince George Refinery and HDRD renewable diesel complex, operated above nameplate capacity. This segment generated a record adjusted EBITDA of C$56 million, benefiting from favorable market pricing and offtake contracts. Furthermore, management is progressing a sustainable aviation fuel project, with a potential final investment decision anticipated in the fourth quarter of 2026.

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