secwatch.observer — SEC 8-K summary
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Issuer:     KINDER MORGAN, INC. (KMI)
CIK:        0001506307
Form:       8-K
Filed at:   2026-10-21T20:10:58+00:00
Accession:  0001506307-26-000130
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Kinder Morgan posts record Q3; EPS $0.34 (+21%), backlog rises to $14.4B
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- Q3 net income attributable to KMI was $764M vs $628M a year ago; adjusted net income was $792M, up 22%, and Adjusted EBITDA was $2.18B, up 9%.
- EPS was $0.34 and Adjusted EPS was $0.35, each up 21% YoY; board declared a Q3 dividend of $0.2975/share ($1.19 annualized), 2% above Q3 2025.
- Expansion backlog reached $14.4B, up $4.7B from Q2 on $5.4B of additions net of $700M placed in service; natural gas backlog is $13.2B, the largest in company history.
- New backlog projects include SNG Southeast Connector and NGPL Permian Link, each designed for over 2.5 Bcf/d; more than 75% of total backlog supports power generation and LDC demand.
- 2026 outlook: budgeted Adjusted EBITDA $8.6B and Adjusted EPS $1.36; KMI now expects >6% and >13% favorable, respectively, with year-end leverage of 3.6x vs 3.8x budget.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1506307/000150630726000130/0001506307-26-000130-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1506307/000150630726000130/kmi-20261021.htm
  HTML page:      https://secwatch.observer/filing/0001506307-26-000130

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