Kinetik reports Q4 2022 net income $48.5M, FY2022 Pro Forma Adj EBITDA $822.2M; issues 2023 guidance $800M-$860M

Kinetik Holdings Inc.

2022-FY EPS reported $1.48 revenue$1,213,490,000

Q4 2022 net income $48.5M; FY2022 net income $250.7M, Pro Forma Adj EBITDA $822.2M, CapEx $284.0M.
2023 guidance: Adj EBITDA $800M-$860M, CapEx $490M-$540M; expects to exit 2023 at ~1.5 Bcf/d processed gas (+20% vs Q4 2022).
Expanding into Lea County, NM with new long-term gathering/processing agreement with large cap investment grade counterparty (MVC-backed); in-service Q1 2024.
Core Shareholders to reinvest 100% of 2023 dividends under DRIP; Board authorized $100M share repurchase program.
Targeting $50M in 2023 synergies (vs >$30M in 2022); Diamond Cryo expansion (120 MMcf/d) on track for April 2023.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.97

Kinetik Holdings Inc. reported the quarter and year ended December 31, 2022 results: net income $48.5 million and $250.7 million.

Period: the quarter and year ended December 31, 2022
Net income: $48.5 million and $250.7 million
Result: reported results

Exact text from the filing

On February 27, 2023, Kinetik Holdings Inc. issued a press release announcing financial and operating results for the fiscal quarter ended December 31, 2022.

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Source: SEC EDGAR

accession 0001692787-23-000004

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