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HOUSTON - Kinder Morgan Inc. (NYSE:KMI) reported mixed first quarter results on Wednesday, with earnings slightly missing estimates but revenue beating expectations. The energy infrastructure company also reaffirmed its full-year 2025 guidance.
Kinder Morgan posted adjusted earnings per share of $0.34 for Q1, falling short of analyst estimates of $0.35. However, revenue came in at $4.24 billion, surpassing the consensus forecast of $4.08 billion.
The company’s natural gas pipelines segment saw improved financial performance compared to Q1 2024, driven by higher contributions from its Texas Intrastate system and Tennessee Gas Pipeline. Natural gas transport volumes increased 3% year-over-year, primarily due to higher LNG and power plant deliveries.
"The company enjoyed a solid quarter, with very strong operational performance and increased financial contributions from our Natural Gas Pipelines, CO2 and Terminals business segments versus the first quarter of 2024," said CEO Kim Dang.
For the full year 2025, Kinder Morgan reiterated its outlook for adjusted earnings per share of $1.27, slightly below the consensus estimate of $1.28. The company expects to declare dividends of $1.17 per share in 2025, representing a 2% increase from 2024 levels. Adjusted EBITDA is projected to reach $8.3 billion, up 4% compared to 2024.
Kinder Morgan ended Q1 with a net debt-to-adjusted EBITDA ratio of 4.1 times. The company aims to reduce this ratio to 3.8 times by the end of 2025, excluding contributions from its recent Outrigger Energy II acquisition.
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