Kinetik Holdings Inc. (KNTK) Tops Q4 EPS by 122c ; Provides Outlook

Kinetik Holdings Inc. (NASDAQ: KNTK) reported Q4 EPS of $1.70, $1.22 better than the analyst estimate of $0.48. Revenue for the quarter came in at $348.86 million versus the consensus estimate of $309.71 million.

2024 Guidance and Outlook

Kinetik estimates full year 2024 Adjusted EBITDA1 between $905 million and $960 million. The midpoint of the 2024 Guidance implies Adjusted EBITDA1 growth of over 11% year-over-year.

Guidance assumptions include:

Low-double digit growth of gas processed volumes;
Over 90% of gross profit from fixed-fee contracts;
2024 average annual commodity prices of approximately $76 per barrel for WTI, $2 per MMBtu for Houston Ship Channel natural gas, and $0.60 per gallon for natural gas liquids; and
Unhedged commodity-linked gross profit representing approximately 5% of total gross profit

The Company estimates 2024 Capital Expenditures2 to be between $125 million and $165 million. This includes approximately $35 million of maintenance capital which is elevated for this year.

For earnings history and earnings-related data on Kinetik Holdings Inc. (KNTK) click here.

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