Nucor earnings beat by $0.08, revenue fell short of estimates
HOUSTON & MIDLAND, Texas - Kinetik Holdings Inc. (NYSE: KNTK), a midstream energy company, has declared its plan to offer $250 million in sustainability-linked senior notes due 2028, as part of an additional notes offering under an existing indenture. This move, subject to market conditions, follows the company’s prior issuance of $800 million in similar notes.
The new notes will be identical in terms to the existing ones, except for the issue date and price. Kinetik’s interest rates on these notes are tied to sustainability performance targets outlined in their Sustainability-Linked Financing Framework, assessed by ISS ESG. The company’s financial position appears stable, with InvestingPro analysis showing a total debt to capital ratio of 0.44 and an overall Financial Health Score rated as GOOD.
Proceeds from the offering are intended for general corporate purposes, including repaying part of the company’s revolving credit facility debts and covering related fees.
The notes, not yet registered under the Securities Act or state laws, will be available to qualified institutional buyers and non-U.S. persons outside the U.S. This announcement is not an offer to sell or a solicitation to buy these securities.
Kinetik, headquartered in Midland with a significant Houston presence, focuses on services for natural gas, liquids, crude oil, and water producers in the Delaware Basin. The company generates substantial revenue of $9.47 billion and maintains strong free cash flow of $709 million. For deeper insights into Kinetik’s financial metrics and growth potential, investors can access comprehensive analysis through InvestingPro’s detailed research reports, available for over 1,400 US stocks.
The press release includes forward-looking statements about Kinetik’s business plans and the anticipated use of proceeds from the notes offering. These statements are subject to risks that could cause actual results to differ from expectations.
This news is based on a press release statement and does not constitute an offer or solicitation for securities sales in any jurisdiction where such activity would be unlawful without registration or qualification under the relevant securities laws.
In other recent news, APA Corporation reported its fourth-quarter 2024 earnings, revealing a significant shortfall against analysts’ expectations. The company’s earnings per share (EPS) was $0.79, below the forecasted $0.9767, and revenues totaled $2.19 billion, falling short of the expected $2.28 billion. This earnings miss was accompanied by a notable 8% drop in APA’s stock in after-hours trading. Despite the shortfall, APA generated $420 million in free cash flow, marking its highest for the year, and announced a cost-cutting initiative targeting $350 million in savings by 2027.
Additionally, Raymond James downgraded APA’s stock rating from Strong Buy to Outperform, citing disappointing cost-saving measures and a lack of immediate growth drivers. The firm adjusted its price target for APA to $32.00 from $45.00. Meanwhile, Evercore ISI reduced its price target for APA from $30.00 to $25.00 but maintained an In Line rating, highlighting the company’s significant Permian acquisition and cost reduction strategies.
In contrast, CFRA upgraded APA’s stock from Strong Sell to Sell, maintaining a price target of $19.00. This upgrade reflects APA’s cost-saving initiatives and a recent gas price agreement in Egypt, which could lead to a turnaround in production volumes. These recent developments underscore APA’s strategic focus on cost efficiency and production stability amid a challenging market environment.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.