Kinetik Q1 net income $35.4M (+724% YoY); Adj EBITDA $233.6M (+25%), beats internal forecast

Kinetik Holdings Inc.

2024-Q1 EPS reported $0.12 revenue$341,394,000

Gas processed volumes 1.53 Bcf/d (+13% YoY); completed system-wide amine treating at Pecos Bend in April.
Generated distributable cash flow of $154.5M; free cash flow $107.5M; dividend declared $0.75/share ($3.00 annualized).
Entered into long-term CO2 sales agreement with Infinium for Project Roadrunner; no capex or opex burden.
Completed secondary offering for Apache's remaining stake, increasing public float to ~$1.5B.
Leverage ratio 3.8x; Net Debt to Adj EBITDA 4.0x; $150M AR securitization facility executed.

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 the quarter ended March 31, 2024 results: net income $35.4 million.

Period: the quarter ended March 31, 2024
Net income: $35.4 million
Result: reported results

Exact text from the filing

On May 8, 2024, Kinetik Holdings Inc. issued a press release announcing financial and operating results for the fiscal quarter ended March 31, 2024.

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Kinetik Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001692787-24-000032

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