Financial Data and Key Metrics Changes - The company generated revenues of $5.15 billion, an increase of $2 billion from Q2 2021, with a gross margin up by $254 million compared to the previous year [21] - Net income was $635 million, a significant recovery from a net loss of $757 million in Q2 2021, while adjusted earnings rose 20% to $621 million [21] - The Distributable Cash Flow (DCF) totaled $1.176 billion, reflecting a 15% increase year-over-year, with DCF per share up 16% to $0.52 [23] Business Line Data and Key Metrics Changes - In the Natural Gas segment, transport volumes decreased by approximately 2%, primarily due to reduced volumes to Mexico and pipeline outages, although LNG deliveries increased by 16% year-over-year [14][15] - The CO2 segment saw production well above plan, benefiting from higher commodity prices, while the Products segment experienced a 2% decline in refined products volumes [10][17] - The Terminals segment maintained high liquids utilization at 91%, with throughput up 4% driven by gasoline, diesel, and renewables [18] Market Data and Key Metrics Changes - Deliveries to LNG facilities averaged 5.8 million dekatherms per day, 16% higher than Q2 2021, with a market share of around 50% [15] - Natural gas gathering volumes increased by 12% compared to Q2 2021, with significant growth in the Haynesville and Eagle Ford regions [16] - The overall demand for natural gas remains strong, with projections of LNG demand growth between 11 and 15 Bcf per day by 2028 [16] Company Strategy and Development Direction - The company aims to maintain a strong investment-grade balance sheet, fund expansion and acquisition opportunities, and return value to shareholders through dividends and share repurchases [5][12] - A $2.1 billion backlog exists, with 75% focused on low-carbon energy services, indicating a strategic shift towards renewable energy investments [13] - The company is committed to being a key player in the growing LNG market, expecting to maintain its 50% market share [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in exceeding annual plans, attributing outperformance to both commodity price tailwinds and improved operational performance [9] - The company is focused on capital allocation, emphasizing a strong balance sheet and attractive investment opportunities while managing inflation impacts effectively [11][12] - Management acknowledged a disconnect between market pricing and the fundamentals of the midstream energy business, with a dividend yield approaching 7% seen as excessive [7] Other Important Information - The company has repurchased approximately 16.1 million shares year-to-date, reflecting a strategic approach to capital management [20] - The dividend for Q2 2022 was declared at $0.2775 per share, a 3% increase from the previous year [20] Q&A Session Summary Question: Update on Permian takeaway and GCX FID - Management indicated potential near-term tightness in the market but expects sufficient capacity until the latter part of the decade, with FID for new projects likely needed in 2024 or 2025 [26][27] Question: Details on Mas CanAm acquisition - The acquisition involves three landfill gas assets and is expected to provide stable long-term EBITDA with growth potential, indicating a focus on renewable natural gas [30][31] Question: Impact of Freeport outage on operations - Management noted an immaterial financial impact from the Freeport outage, with additional volumes being absorbed by the Texas market [32][33] Question: Long-term outlook for refined product pipelines - Management discussed the ability to adjust rates in response to decreased volumes, emphasizing the strength of their market position despite potential declines in refined product demand [34][35] Question: Updates on LNG project investments - Management expressed optimism about significant investment opportunities in LNG projects over the next three to five years, with a focus on maintaining market share [58][61]

Kinder Morgan, Inc. (NYSE:KMI) Q1 2022 Earnings Conference Call April 20, 2022 4:30 PM ET Company Participants Rich Kinder - Executive Chairman Steve Kean - Chief Executive Officer Kimberly Dang - President David Michels - Chief Financial Officer Thomas Martin - President, Natural Gas Pipelines Conference Call Participants Jean Ann Salisbury - Sanford C. Bernstein Colton Bean - Tudor, Pickering, Holt & Co Jeremy Tonet - JPMorgan Brian Reynolds - UBS Chase Mulvehill - BofA Securities Michael Lapides - Gol ...

Company Strategy and Financial Highlights - Kinder Morgan aims to maximize asset value for shareholders through stable, fee-based assets and disciplined capital allocation[14, 15] - The company expects a 4.3x Net Debt / Adjusted EBITDA ratio by the end of 2022[15] - Kinder Morgan has reduced net debt by approximately $12 billion since the first quarter of 2015[15] - The company budgeted a 3% dividend increase for 2022 and has a $2 billion share buyback program with over $1.4 billion remaining[20] - The 2022 budget includes $7.2 billion in Adjusted EBITDA, a year-over-year increase of over $300 million after normalizing for a one-time benefit in 2021[20] Business Operations and Market Position - Kinder Morgan operates the largest natural gas transmission network with approximately 71,000 miles of pipelines and 700 billion cubic feet (bcf) of working storage capacity[11] - The company transports approximately 1.7 million barrels per day (mmbbld) of refined products through approximately 6,800 miles of pipelines[11] - Kinder Morgan has a committed capital project backlog of $1.4 billion as of December 31, 2021, with approximately 70% allocated to low-carbon investments[15, 29, 33] Energy Transition and Future Outlook - The company is investing in a low-carbon future, with approximately 70% of its $1.4 billion backlog allocated to low-carbon investments[15, 29, 33] - Kinder Morgan anticipates 4 bcf of Renewable Natural Gas (RNG) production capacity by early 2023[11] - The company is reducing CO2 emissions on the Houston Ship Channel, expecting a reduction of approximately 34,000 metric tonnes CO2e per year, or approximately 38% from 2019 levels, through Vapor Recovery Units[114]

Kinder Morgan, Inc (NYSE:KMI) Q4 2021 Earnings Conference Call January 19, 2022 4:30 PM ET Company Participants Rich Kinder - Executive Chairman Steven Kean - Chief Executive Officer David Michels - Chief Financial Officer Dax Sanders - President, Products Pipelines John Schlosser - President, Terminals Kimberly Dang - President Thomas Martin - President, Natural Gas Pipelines Conference Call Participants Jeremy Tonet - JPMorgan Colton Bean - Tudor, Pickering, Holt & Company Jean Ann Salisbury - Bernstein K ...

Financial Performance - Total revenues for the three months ended September 30, 2021, were $3,824 million, up from $2,919 million for the same period in 2020, representing a 31% increase[13] - Operating income for the nine months ended September 30, 2021, was $1,966 million, compared to $580 million for the same period in 2020, reflecting a significant improvement[13] - Net income attributable to Kinder Morgan, Inc. for the three months ended September 30, 2021, was $495 million, an increase from $455 million in the same period of 2020, marking an 8.8% growth[15] - Basic and diluted earnings per share for the three months ended September 30, 2021, were $0.22, compared to $0.20 for the same period in 2020, indicating a 10% increase[13] - Net income for the nine months ended September 30, 2021, was $1,196 million, compared to a net loss of $443 million in 2020, representing a significant turnaround[19] - Total consolidated net income for the three months ended September 30, 2021, was $511 million, compared to $472 million in the same period of 2020, reflecting a growth of 8%[105] Assets and Liabilities - Total current assets decreased to $2,686 million as of September 30, 2021, from $3,203 million as of December 31, 2020[18] - Total liabilities decreased to $37,987 million as of September 30, 2021, from $39,407 million as of December 31, 2020, showing a reduction of 3.6%[18] - Long-term debt outstanding as of September 30, 2021, was $28,988 million, down from $30,838 million as of December 31, 2020, a decrease of 6%[18] - Total consolidated assets as of September 30, 2021, were $69,640 million, a decrease from $71,973 million as of September 30, 2020[105] - Total stockholders' equity decreased from $31,838 million as of December 31, 2020, to $30,992 million as of September 30, 2021, a decline of about 2.7%[18] Cash Flow and Investments - Net cash provided by operating activities increased to $4,440 million, up from $3,282 million in the same period of 2020, reflecting a growth of 35.2%[19] - Net cash used in investing activities was $1,911 million, compared to $776 million in 2020, indicating increased investment activity[19] - Issuances of debt amounted to $4,950 million, an increase from $3,888 million in the previous year, highlighting a strategy to leverage financing[19] - Payments of debt increased to $6,459 million from $3,991 million, indicating a focus on debt reduction[19] - Cash and cash equivalents decreased to $102 million as of September 30, 2021, from $1,184 million as of December 31, 2020, indicating a significant reduction in liquidity[18] Acquisitions and Goodwill - The company completed the acquisition of Kinetrex Energy for $318 million, which includes a customer relationship valued at $199 million with a 10-year amortization period[44] - The acquisition of Stagecoach Gas Services LLC was completed for approximately $1,228 million, enhancing the company's natural gas pipeline and storage capabilities[45] - Goodwill increased to $20,033 million as of September 30, 2021, up from $19,851 million at the end of 2020, reflecting acquisitions and synergies[48] Environmental and Legal Matters - The company is involved in ongoing legal proceedings related to tariffs and rates charged by SFPP, with claims for at least $50 million in rate refunds[111] - The estimated cost for the final remedy at the Portland Harbor Superfund Site is more than $3 billion, with cleanup expected to take over 10 years[122] - The company intends to vigorously defend against various legal and regulatory matters, believing that the ultimate resolution will not have a material adverse impact on its business[109] - The company accrued a total reserve for environmental liabilities of $242 million as of September 30, 2021, down from $250 million as of December 31, 2020[131] Derivative Contracts and Hedging - The company has a maximum term of hedging for energy commodity price risk through December 2025[76] - As of September 30, 2021, the notional amount of fixed-to-variable interest rate contracts is $7,100 million, with a maximum term extending to March 2035[77] - The fair value of derivative contracts as of September 30, 2021, totals $560 million in assets and $(376) million in liabilities[82] - The company reported a net current-period change in accumulated other comprehensive loss of $(235) million for the period ending September 30, 2021[73] Revenue Breakdown - Revenues from natural gas pipelines amounted to $2.555 billion, representing a 14% decline year-over-year[93] - Total commodity sales were $1.996 billion, down 14% from the prior year, with natural gas sales contributing $1.101 billion[93] - Firm services generated $1.082 billion in revenue, while fee-based services accounted for $537 million[93] - Contract asset balances increased to $62 million as of September 30, 2021, up from $20 million at the end of 2020[99] Shareholder Returns - Dividends paid during the period were $1,828 million, slightly up from $1,764 million in 2020, reflecting a commitment to returning value to shareholders[19] - Cash dividend declared for the quarterly period ended September 30, 2021, is $0.27 per share, compared to $0.2625 per share for the same period in 2020[70] - The company has repurchased approximately 32 million Class P shares at an average price of $17.71 per share, totaling approximately $575 million since the buy-back program began in December 2017[69]

Kinder Morgan Inc. (NYSE:KMI) Q3 2021 Earnings Conference Call October 21, 2021 4:30 PM ET Company Participants Steven Kean – Chief Executive Office & Director Richard Kinder – Executive Chairman Kimberly Dang – President & Director David Michels – Chief Financial Officer & Vice President Conference Call Participants Shneur Gershuni – UBS Spiro Dounis – Credit Suisse Tonet from – Morgan Michael Blum – Wells Fargo Tristan Richardson – Truist Securities Keith Stanley – Wolfe Research Chase Mulvehill – Bank of ...