secwatch.observer — SEC 8-K summary
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Issuer:     KINDER MORGAN, INC. (KMI)
CIK:        0001506307
Form:       8-K
Filed at:   2025-10-22T23:59:59+00:00
Accession:  0001506307-25-000063
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kinder Morgan Q3 adjusted EPS up 16% to $0.29; backlog $9.3B; expects to exceed 2025 budget
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- Q3 net income $628M vs $625M Q3 2024; adjusted net income $648M (+16%); Adjusted EBITDA $1,991M (+6%).
- Dividend raised 2% to $0.2925/share ($1.17 annualized), payable Nov 17 to holders of record Nov 3.
- 2025 outlook expects to exceed budget; net income budget $2.8B (+8%), Adjusted EPS $1.27 (+10%).
- Backlog stands at $9.3B with ~90% natural gas projects; liquidity strong with 3.9x Net Debt/EBITDA.
- Free cash flow after capex $0.6B (+5% YoY); management cites robust LNG and power demand growth.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1506307/000150630725000063/0001506307-25-000063-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1506307/000150630725000063/kmi-20251022.htm
  HTML page:      https://secwatch.observer/filing/0001506307-25-000063

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