Kinder Morgan Expects Earnings and EBITDA Growth in 2026

Core Viewpoint - Kinder Morgan anticipates stronger financial performance in 2026, with an 8% increase in adjusted earnings per share and nearly $8.7 billion in adjusted EBITDA, driven by its natural gas pipeline expansion program [1][2]. Financial Projections - The company projects Adjusted EPS of $1.37 and Adjusted EBITDA of $8.7 billion for 2026, reflecting year-on-year increases of 8% and 4%, respectively, compared to its 2025 guidance [2]. - The planned annualized dividend is set to rise to $1.19 per share, marking the ninth consecutive year of increases [3]. Capital Expenditure and Funding - Capital expenditures are projected at $3.4 billion, primarily focused on natural gas infrastructure expansions and joint venture contributions, with discretionary spending funded largely through internally generated cash flow [4]. Industry Trends - The outlook highlights ongoing sector trends, including steady growth in North American gas demand, strong utilization of existing pipeline and storage assets, and multi-year expansion cycles driven by LNG export capacity additions [5]. - Kinder Morgan's extensive network of 79,000 miles of pipelines and over 700 Bcf of working gas storage positions the company to benefit from tightening U.S. gas logistics as new LNG terminals and regional load centers are developed [6]. Governance and Future Plans - The company's board has preliminarily reviewed the 2026 budget, with formal approval expected in January, coinciding with the fourth-quarter earnings meeting [7].