secwatch.observer — SEC 8-K summary
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Issuer:     KINDER MORGAN, INC. (KMI)
CIK:        0001506307
Form:       8-K
Filed at:   2025-07-16T23:59:59+00:00
Accession:  0001506307-25-000042
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kinder Morgan Q2 net income +24% to $715M; record Adjusted EBITDA; dividend +2%
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- Net income $715M (+24% YoY); Adjusted net income $619M (+13%); record Adjusted EBITDA $1,972M (+6%).
- Dividend raised 2% to $0.2925/share ($1.17 annualized); payable Aug 15, record Jul 31.
- Project backlog $9.3B (+6% vs Q1); $750M in projects placed in service; 93% natural gas.
- FY2025 budget: net income $2.8B (+8%); Adjusted EPS $1.27 (+10%); expect to exceed budget.
- Tariffs impact ~1% of project costs; budget reconciliation provides tax benefits from bonus depreciation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1506307/000150630725000042/0001506307-25-000042-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1506307/000150630725000042/kmi-20250716.htm
  HTML page:      https://secwatch.observer/filing/0001506307-25-000042

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer