Kinetik Q2 net income $108.9M (+52% YoY); Adj EBITDA $234.4M (+13%); raises 2024 guidance

Kinetik Holdings Inc.

2024-Q2 EPS reported $0.67 revenue$700,851,000

Q2 2024 net income $108.9M (52% increase YoY); Adjusted EBITDA $234.4M (13% increase YoY).
Revised 2024 Adj EBITDA guidance to $940M–$980M (prev. $905M–$960M); CapEx guidance raised to $260M–$300M.
Completed Durango Permian acquisition (late June) and divested 16% non-operated GCX interest (early June).
Sanctioned pre-FID work for Kings Landing II; advanced acid gas injection well for H2S/CO2 treating.
Executed Lea County amendment increasing MVC and margins; dividend $0.75/share ($3.00 annualized).

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