Kinder Morgan(US:KMI)2025-04-17 00:29Financial Performance & Projections - The company anticipates Adjusted Earnings Per Share (EPS) of $1.27 in 2025, representing an approximate 10% increase compared to 2024[31] - The company projects Adjusted EBITDA of $83 billion in 2025, reflecting an approximate 4% increase compared to 2024[31] - The company budgets discretionary capital of $2.3 billion for infrastructure projects with attractive returns in 2025[31] - The company expects to return $2.6 billion to shareholders through dividends in 2025[31] - The company projects a Net Debt to Adjusted EBITDA ratio of approximately 38x by year-end 2025, a decrease of 02x compared to year-end 2024[15, 31] Business Segments & Strategy - Natural Gas Transmission & Storage is expected to account for 59% of the company's Adjusted Segment EBDA in 2025[21, 99] - Approximately 40% of the United States' natural gas production is transported by the company[13, 15, 53] - The company's business mix is shifting, with Natural Gas Transmission & Storage increasing by 16% since 2014, while Natural Gas Gathering & Processing (G&P) and CO2 have decreased by 5% and 10% respectively[21, 22] - Approximately 95% of the company's cash flows are either take-or-pay, fee-based, or hedged[19] Growth & Capital Projects - The company has a committed growth capital project backlog of approximately $81 billion as of December 31, 2024, with approximately 90% allocated to natural gas investments[15, 27] - Approximately 25% of the company's backlog capital is expected to be in service during 2025[27]