From Financial Modeling Prep: 2024-10-17 12:49:00

Kinder Morgan, Inc. (NYSE:KMI) reported mixed Q3 results, with earnings per share falling short of estimates at $0.25 but revenue exceeding expectations at $3.7 billion. Net income rose to $625 million, and adjusted EBITDA increased by 2% to $1.88 billion.

The company generated $1.2 billion in cash flow from operations and $600 million in free cash flow after capex. Kinder Morgan completed a $455 million expansion of the Gulf Coast Express Pipeline and advanced other projects. Discussions on new opportunities in natural gas demand for electric generation, AI operations, and data centers are ongoing.

Kinder Morgan adjusted its fiscal 2024 outlook, expecting Adjusted EBITDA to be 2% below budget and Adjusted EPS to be 4% under target. However, the company forecasts a 5% growth in Adjusted EBITDA and a 9% rise in Adjusted EPS compared to 2023.



Read more at Financial Modeling Prep:: Kinder Morgan’s Q3 Results Miss on Earnings but Be…