secwatch.observer — SEC 8-K summary
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Issuer:     Kinetik Holdings Inc. (KNTK)
CIK:        0001692787
Form:       8-K
Filed at:   2026-02-26T23:59:59+00:00
Accession:  0001692787-26-000047
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kinetik reports record 2025 Adjusted EBITDA of $987.7M; 2026 guidance $950M-$1,050M
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- Q4 net income $416.7M, FY net income $525.9M; Adj. EBITDA Q4 $252.1M, FY $987.7M (record).
- Gas processed volumes 1.79 Bcf/d in Q4 (+3% YoY); Midstream Logistics Adj. EBITDA up 15% YoY to $173.1M.
- 2026 Adj. EBITDA guidance $950M-$1,050M; capex $450M-$510M; expects high single-digit volume growth.
- Amended G&P contracts with two largest customers extending into mid-2030s; FID on 40 MW power project.
- Repurchased $176M of Class A common stock in 2025; new capital allocation targets 3.5x-4.0x leverage.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1692787/000169278726000047/0001692787-26-000047-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1692787/000169278726000047/apa-20260225.htm
  HTML page:      https://secwatch.observer/filing/0001692787-26-000047

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer