Kinder Morgan (KMI) delivered strong performance in the fourth quarter of 2025, reporting financial results that exceeded analyst expectations on the strength of surging natural gas demand. The midstr... ...

Kinder Morgan has announced a 49% surge in net income for the fourth quarter ending 31 December 2025 (Q4 2025), with figures of $996m compared to $667m during the same period in 2024. The energy infrastructure company reported an increase in adjusted net income to $866m, a 22% rise from $708m a year prior. Adjusted net income attributable to common stock also climbed to $862m, reflecting a 22% increase from $704m in Q4 2024. Additionally, adjusted earnings before interest, taxes, depreciation and amort ...

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Core Viewpoint - U.S. stock futures are trading higher, with several companies expected to report earnings that may attract investor attention today [1] Group 1: Company Earnings Reports - Abbott Laboratories (NYSE:ABT) is expected to report quarterly earnings of $1.50 per share on revenue of $11.81 billion, with shares rising 0.2% to $121.01 in after-hours trading [1] - Kinder Morgan Inc. (NYSE:KMI) reported positive financial results for Q4 and lowered its full-year 2026 adjusted earnings guidance, with a cash dividend of $0.2925 per share for Q4, up 2% year-over-year; shares gained 0.4% to $28.68 [1] - Procter & Gamble Co. (NYSE:PG) is anticipated to post quarterly earnings of $1.86 per share on revenue of $22.28 billion, with shares falling 0.4% to $145.50 in after-hours trading [1] - CACI International Inc. (NYSE:CACI) exceeded earnings expectations for Q2 and raised its FY2026 guidance, with shares increasing 0.8% to $637.71 in after-hours trading [1] - Intel Corp. (NASDAQ:INTC) is expected to report quarterly earnings of 8 cents per share on revenue of $13.38 billion, with shares rising 1.2% to $54.92 in after-hours trading [1]

Core Insights - Kinder Morgan, Inc. is a leading energy infrastructure company in North America, focusing on the transportation and storage of oil and natural gas, with a significant presence in the pipeline industry [1] Financial Performance - For the fourth quarter, Kinder Morgan reported earnings per share (EPS) of $0.39, exceeding the estimated $0.36 and the Zacks Consensus Estimate of $0.37, resulting in a 6.85% earnings surprise [2][6] - The company's revenue for the quarter ending December 2025 was approximately $4.51 billion, surpassing the estimated $4.32 billion and marking a year-over-year increase from $3.99 billion [3][6] - Net income attributable to the company for the fourth quarter was $996 million, a significant increase from $667 million in the same quarter the previous year [4] - Adjusted EBITDA rose by 10% year-over-year to approximately $2.27 billion [4] Dividends and Financial Ratios - Kinder Morgan announced a cash dividend of $0.29 per share, scheduled for payment on February 17, 2026 [4] - The company has a price-to-earnings (P/E) ratio of approximately 23.31 and a price-to-sales ratio of about 3.87 [5] - The debt-to-equity ratio is approximately 1.06, indicating a moderate level of debt relative to its equity [5] Project Backlog - Kinder Morgan maintains a strong project backlog of $10 billion, with natural gas projects comprising about 90% of this backlog, driven by robust demand for natural gas [5]

Kinder Morgan reported record fourth-quarter and full-year financial results for 2025, underscoring the growing role of U.S. natural gas infrastructure in meeting domestic power demand and global LNG export needs. The Houston-based midstream operator posted fourth-quarter net income attributable to shareholders of $996 million, up from $667 million a year earlier, while adjusted net income rose 22% year-on-year to $866 million. Adjusted EBITDA reached $2.27 billion in the quarter, a 10% increase, reflecti ...

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Kinder Morgan (KMI) came out with quarterly earnings of $0.39 per share, beating the Zacks Consensus Estimate of $0.37 per share. This compares to earnings of $0.32 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +6.85%. A quarter ago, it was expected that this oil and natural gas pipeline and storage company would post earnings of $0.29 per share when it actually produced earnings of $0.29, delivering no surprise.Over the las ...

Core Insights - Kinder Morgan reported a "fantastic" fourth quarter with record results for both the quarter and the year, including a 10% increase in adjusted EBITDA and a 22% growth in adjusted earnings per share compared to the fourth quarter of 2024 [1][5][6] Financial Performance - The company achieved a fourth-quarter net income of $996 million and an EPS of $0.45, representing increases of 49% and 50% year-over-year, respectively [6] - For the full year, Kinder Morgan exceeded its budget, driven primarily by its natural gas business, which saw increased transport capacity and ancillary services [7][8] Growth Drivers - Management remains optimistic about long-term U.S. natural gas demand, particularly from liquefied natural gas (LNG) feed gas, which is projected to average 19.8 Bcf per day in 2026, a 19% increase from 2025 [3][5] - The company’s project backlog grew to $10 billion, with significant contributions from new projects and ongoing demand for natural gas transport and storage [4][9] Capital Expenditure and Financial Health - Kinder Morgan plans to spend approximately $3 billion annually in capital expenditures, funded from cash flow, while maintaining a net debt-to-adjusted EBITDA ratio of 3.8x [19][21] - The company received credit upgrades from S&P and Fitch, reflecting its improved financial profile [20] Segment Performance - Natural gas transport volumes increased by 9% in the fourth quarter year-over-year, with gathering volumes up 19%, driven by strong LNG feed gas deliveries [13] - In the products pipelines segment, refined products volumes decreased by 2%, while crude and condensate volumes fell 8% due to maintenance activities [14] Project Updates - Construction on major projects, including MSX, South System 4, and Trident, is on budget and ahead of schedule, with the timeline for MSX's in-service date moved up to the second quarter of 2028 [11][12] - The company is also exploring additional project opportunities beyond its approved backlog, with potential for significant growth in U.S. natural gas demand projected between 2030 and 2035 [10]

Financial Data and Key Metrics Changes - For Q4 2025, adjusted EBITDA increased by 10% compared to Q4 2024, and adjusted EPS grew by 22% [5][15] - Net income attributable to Kinder Morgan for Q4 2025 was $996 million, with EPS of $0.45, representing a 49% and 50% increase over Q4 2024 respectively [15] - The net debt to adjusted EBITDA ratio improved to 3.8 times, down from 3.9 times in the previous quarter [16] Business Line Data and Key Metrics Changes - In the natural gas business unit, transport volumes rose by 9% in Q4 2025 compared to Q4 2024, primarily due to increased LNG feed gas deliveries [10] - Natural gas gathering volumes increased by 19% in Q4 2025 from Q4 2024, with a significant contribution from the Haynesville system [10] - Refined products volumes decreased by 2% in Q4 2025 compared to Q4 2024, while crude and condensate volumes were down 8% [11] Market Data and Key Metrics Changes - The company estimates that feed gas demand will average 19.8 BCF per day in 2026, a 19% increase from 2025 [3] - The U.S. natural gas market is projected to grow with an incremental 20 BCF per day of demand growth between 2030 and 2035 [7] Company Strategy and Development Direction - Kinder Morgan's strategy focuses on leveraging its extensive pipeline networks to capitalize on the growing demand for natural gas, particularly for LNG exports [4] - The company has a project backlog of approximately $10 billion, with opportunities beyond that exceeding $10 billion [6] - The company aims to maintain a disciplined approach to capital allocation while pursuing growth opportunities [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong growth of natural gas demand, driven by the need for additional LNG feed gas [3] - The company anticipates continued strong performance in 2026, supported by its natural gas assets and project backlog [4][9] - Management noted that the balance sheet is in great shape, with recent credit rating upgrades reflecting this strength [8][16] Other Important Information - The company completed a significant asset sale, which was not planned but deemed economically beneficial [44] - S&P upgraded Kinder Morgan to BBB Plus, indicating a strengthened financial profile [8][16] Q&A Session Summary Question: Can you discuss the data center opportunities and what you're seeing actively? - Management indicated that about 60% of the $10 billion backlog is associated with power projects, including data centers, and highlighted significant power demand growth projections in states like Georgia [22][23] Question: What is the status of the Western Gateway project? - Management stated that they are evaluating capital allocation based on risk and return, and they expect to fund the project while also pursuing natural gas opportunities [29][30] Question: How meaningful is Continental Resources as a customer? - Management noted that EBITDA from Bakken is about 3% of overall EBITDA, and they do not expect a material impact from Continental's recent announcements [42] Question: Are there more non-core assets that the company is looking to sell? - Management clarified that asset sales are opportunistic and based on economic decisions, with the recent EagleHawk sale being a prime example [44][46] Question: What are the opportunities in the gas transportation market? - Management highlighted that the gas transportation market is tight, and dislocations in supply or demand present opportunities for the company [58][60]