Kinder Morgan (KMI) Reports In-Line Q4 EPS, Offers Outlook

Kinder Morgan (NYSE: KMI) reported Q4 EPS of $0.26, in-line with the analyst estimate of $0.26. Revenue for the quarter came in at $3.35 billion versus the consensus estimate of $3.62 billion.

2020 Outlook:

For 2020, KMI’s budget contemplates declared dividends of $1.25 per common share, a 25 percent increase from the 2019 declared dividends, DCF of approximately $5.1 billion ($2.24 per common share) and Adjusted EBITDA of approximately $7.6 billion. KMI also expects to invest $2.4 billion in expansion projects and contributions to joint ventures during 2020. KMI expects to use internally generated cash flow to fully fund its 2020 dividend payments, as well as almost all of its 2020 discretionary spending, with no need to access equity markets. KMI also expects to end 2020 with a Net Debt-to-Adjusted EBITDA ratio of approximately 4.3 times. More detail will be provided at our Investor Day on January 29, 2020.

KMI does not provide budgeted net income available to common stockholders and net income, the GAAP financial measures most directly comparable to the non-GAAP financial measures of DCF and Adjusted EBITDA, respectively, or budgeted metrics derived therefrom (such as the portion of net income attributable to an individual capital project, the GAAP financial measure most directly comparable to Project EBITDA) due to the impracticality of predicting certain amounts required by GAAP such as unrealized gains and losses on derivatives marked to market and potential changes in estimates for certain contingent liabilities.

For earnings history and earnings-related data on Kinder Morgan (KMI) click here.

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