8-K
filed July 19, 2023, 7:59 PM ET
ticker KMI
CIK 0001506307
earnings
confidence high
sentiment neutral
materiality 0.70
Kinder Morgan Q2 net income $586M, DCF $1.076B; lowers full-year outlook on weak commodity prices
KINDER MORGAN, INC.
2023-Q2 EPS reported
$0.56
revenue$7,389,000,000
- Q2 net income $586M ($0.26 EPS) vs $635M YoY; DCF $1.076B ($0.48/share), down 8% YoY.
- Board approves $0.2825/share dividend (2% increase YoY), payable Aug 15, 2023.
- Repurchased ~20M shares for ~$330M YTD; Net Debt/EBITDA ratio 4.1x (target ~4.5x).
- 2023 outlook: budgeted DCF $4.8B, adj. EBITDA $7.7B; expects slight miss on plan due to weak commodity prices.
- Project backlog $3.7B, 80% lower-carbon; PHP expansion adding ~550 MMcf/d.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
KINDER MORGAN, INC. reported the first six months of 2023 results: net income $1,265 million.
- Period
- the first six months of 2023
- Net income
- $1,265 million
- Result
- preliminary results
Exact text from the filing
For the first six months of 2023, the company reported net income attributable to KMI of $1,265 million, compared to $1,302 million for the first six months of 2022; and DCF of $2,450 million, down 7% from $2,631 million for the comparable period in 2022.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
KINDER MORGAN, INC. reported 2023 results: net income $2.5 billion ($1.12 per share), EPS $1.12 per share. Guidance lowered.
- Period
- 2023
- Net income
- $2.5 billion ($1.12 per share)
- EPS
- $1.12 per share
- Guidance
- lowered
- Result
- guidance update
Exact text from the filing
For 2023, KMI budgeted net income attributable to KMI of $2.5 billion ($1.12 per share) and expects to declare dividends of $1.13 per share, a 2% increase from the dividends declared for 2022. The company also budgeted 2023 DCF of $4.8 billion ($2.13 per share), Adjusted EBITDA of $7.7 billion and to end 2023 with a Net Debt-to-Adjusted EBITDA ratio of 4.0 times, well below our long-term target of 4.5 times. While we are on budget year-to-date, we now expect to finish 2023 slightly below our plan on a full-year basis, all of which can be explained by e
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
KINDER MORGAN, INC. reported the quarter ended June 30, 2023 results: net income $586 million, EPS $0.26.
- Period
- the quarter ended June 30, 2023
- Net income
- $586 million
- EPS
- $0.26
- Result
- preliminary results
Exact text from the filing
The company is reporting second quarter net income attributable to KMI of $586 million, compared to $635 million in the second quarter of 2022 and distributable cash flow (DCF) of $1,076 million, compared to $1,176 million in the second quarter of 2022.
View on SEC.gov
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