Kinder Morgan Tops Earnings Estimates In Q4, Lifts Dividend, Lowers Outlook

Financial Performance - Kinder Morgan reported fourth-quarter revenue of $4.51 billion, exceeding the consensus estimate of $4.31 billion [2] - The company achieved adjusted quarterly earnings of 39 cents per share, surpassing analyst estimates of 37 cents per share [2] - Net income attributable to the company for the fourth quarter was $996 million, compared to $667 million in the same quarter last year [3] - Adjusted EBITDA for the quarter was approximately $2.27 billion, reflecting a 10% year-over-year increase [3] Project Backlog and Future Outlook - Kinder Morgan highlighted a project backlog of $10 billion, primarily driven by strong natural gas demand, with natural gas projects accounting for about 90% of this backlog [3] - The company lowered its full-year 2026 adjusted earnings guidance from $1.37 to $1.36 per share, while still projecting a 5% growth compared to 2025 [5] - Budgeted net income attributable to the company for 2026 is expected to be $3.1 billion, flat compared to 2025, with adjusted net income anticipated to rise by 5% year-over-year [5] Dividend and Shareholder Returns - The board approved a cash dividend of $0.2925 per share for the fourth quarter, marking a 2% increase year-over-year [4] - The dividend is scheduled to be paid on February 17 to shareholders of record as of February 2 [4] - Kinder Morgan expects to declare total dividends of $1.19 per share for the year 2026 [4] Market Reaction - Following the earnings report, Kinder Morgan shares rose by 0.84% to $28.82 in extended trading [7]