KMI
Kinder Morgan, Inc.26.33
-0.39-1.46%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Power demand, capex firepower detailed
Q&A elaborated on power demand fueling 60% of the $10B backlog, citing Georgia's 53GW need through early 2030s—equivalent to 10 Bcf/d if all gas-fired—and Wood Mac's view of accelerating growth post-2030. Management stressed capital flexibility to fund $3B annual CapEx, Western Gateway JV (with asset contributions curbing cash needs), and nat gas projects without hiking leverage from 3.8x. Bakken's Continental pullback? Negligible at 3% EBITDA. Tight gas markets drove Q4 beats and promise volatility upside. Answers reaffirmed LNG take-or-pay strength amid glut fears, with just 12% shadow backlog LNG-tied. Investors eye power FIDs, Southeast expansions.
Key Stats
Market Cap
58.58BP/E (TTM)
21.58Basic EPS (TTM)
1.22Dividend Yield
0.04%Recent Filings
8-K
KMI schedules investor conferences
Kinder Morgan announced on February 20, 2026, that executives will attend four investor conferences starting February 25 to discuss business operations. Presentation materials post online before 8:00 a.m. CT on February 23 at ir.kindermorgan.com. Live webcast of Raymond James event kicks off March 3. No new financials disclosed.
10-K
FY2025 results
Kinder Morgan posted FY2025 revenues of $16.9B, up 12% y/y, driven by higher natural gas sales amid elevated prices and volumes, plus services growth from expansions and the February Outrigger acquisition. Natural Gas Pipelines led with 28% Midstream EBDA growth to $2.3B on Texas expansions and higher sales margins, while East and West added 6% and 3%. Adjusted EBITDA climbed 6% to $8.4B, but Products Pipelines dipped 4% on expiring crude contracts, Terminals held steady, and CO2 fell 11% on lower oil volumes. Q4 momentum shone via projects like TGP Evangeline Phase 2 and Altamont in service, supporting $2.0B expansion capex; net debt sits at ~$32B with $3.5B revolver capacity. Board hiked the dividend 2% to $1.19/share for 2026. Regulatory shifts threaten quarterly flows.
8-K
2026 update posts tomorrow
8-K
Record Q4 earnings, dividend up
Kinder Morgan posted record Q4 2025 net income of $996 million, up 49% from 2024, driven by Natural Gas Pipelines strength; Adjusted EBITDA hit $2,271 million, up 10%. Full-year Adjusted EPS rose 13% to $1.30, with $10 billion project backlog signaling LNG and power demand growth. Dividend hiked 2% to $0.2925 per share. Balance sheet solid at 3.8x Net Debt-to-Adjusted EBITDA.
8-K
Symposium participation announced
Kinder Morgan announced on December 4, 2025, that its representatives will discuss business affairs at the Wells Fargo Energy & Power Symposium on December 9. Presentation materials post before 6:00 a.m. CT; live webcast starts 10:15 a.m. ET. No new financials disclosed. Event replay available 180 days.
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