Kinder Morgan (KMI) Misses Q2 EPS by 1c; offers outlook

Kinder Morgan (NYSE: KMI) reported Q2 EPS of $0.25, $0.01 worse than the analyst estimate of $0.26. Revenue for the quarter came in at $3.57 billion versus the consensus estimate of $4.14 billion.

OUTLOOK

For 2024, including contributions from the acquired STX Midstream assets, KMI budgeted net income attributable to KMI of $2.7 billion ($1.22 per share), up 15% versus 2023, and expects to declare dividends of $1.15 per share for 2024, a 2% increase from the dividends declared for 2023. The company also budgeted 2024 DCF of $5 billion ($2.26 per share), and Adjusted EBITDA of $8.16 billion, both up 8% versus 2023, and to end 2024 with a Net Debt-to-Adjusted EBITDA ratio of 3.9 times.

The budget assumes average annual prices for West Texas Intermediate (WTI) crude oil and Henry Hub natural gas of $82 per barrel and $3.50 per million British thermal unit (MMBtu), respectively, consistent with the published forward curve available during the company’s annual budget process.

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

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