Kinetik Q1 net income $4.3M, adjusted EBITDA $187.5M; April gas volumes record 1.52 Bcf/d

Kinetik Holdings Inc.

2023-Q1 EPS reported -$0.06 revenue$281,040,000

Net income $4.3M; Adjusted EBITDA $187.5M; DCF $126.7M; FCF $25.8M.
April processed gas volumes averaged 1.52 Bcf/d, a record, up ~21% versus Q4 2022.
Acquired midstream assets in Reeves County, TX for $65M; also paid $60M incentive to accelerate drilling.
2023 Adjusted EBITDA guidance tracking to high end of $800M-$860M; capex trending to upper end.
Reduced unhedged commodity exposure to 6% of gross profit; fixed SOFR on $2.25B debt through May 2025.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Kinetik Holdings Inc. reported for the quarter ended March 31, 2023 results: net income $4.3 million.

Period: for the quarter ended March 31, 2023
Net income: $4.3 million
Result: reported results

Exact text from the filing

On May 3, 2023, Kinetik Holdings Inc. issued a press release announcing financial and operating results for the fiscal quarter ended March 31, 2023.

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Kinetik Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001692787-23-000011

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