Pembina Pipeline Corp (PBA) Q4 2019 Earnings Call Transcript

Pembina Pipeline Corp (PBA) Q4 2019 Earnings Call Transcript

Pembina Pipeline Corp ( NYSE:PBA ) Q4 2019 Earnings Call Feb 28, 2020 , 10:00 a.m. ET. I would now like to hand the conference over to your speaker today, Scott Burrows, Senior Vice President and Chief Financial Officer.. Good morning everyone and welcome to Pembina's conference call and webcast to review highlights from the fourth quarter and full year 2019.. On the call with me today are Mick Dilger, President and Chief Executive Officer; Jason Wiun, Senior Vice President and Chief Operating Officer, Pipelines; Jaret Sprott, Senior Vice President and Chief Operating Officer, Facilities; Stu Taylor, Senior Vice President, Marketing & New Ventures, and Corporate Development Officer.. While earnings of CAD145 million during the quarter were 61% decrease when compared to the same period last year, this was largely due to one-time non-cash after-tax impairment charge of CAD220 million on Pembina's investment in Ruby Pipeline.. Adjusted EBITDA in the quarter was CAD787 million, a 10% increase compared to the same period last year.. The increase was due to new assets placed in the service and pipelines and facilities and the adoption of IFRS 16.. We are excited about the CAD1.2 billion of additional fee-based projects, which are expected to