Kinder Morgan, Inc. (NYSE: KMI) reported Q1 2020 earnings results today. The company posted net loss attributable to KMI of $306 million, compared to net income attributable to KMI of $556 million in the same period last year, mainly due to $950 million of non-cash impairments of assets and goodwill associated with certain oil and gas producing assets in the CO2 segment driven by the recent decline in crude oil prices.
For 2020, Kinder Morgan had estimated DCF of approx. $5.1 billion, or $2.24 per common share, and adjusted EBITDA of approx. $7.6 billion. Due to the COVID-19 pandemic-related reduced energy demand and the sharp decline in commodity prices, the company now expects DCF to be below plan by about 10% and adjusted EBITDA to be below plan by around 8%.
The board of directors approved a cash dividend of $0.2625 per share for the first quarter, payable on May 15, 2020, to common stockholders of record as of May 4, 2020. This dividend amounts to $1.05 on an annualized basis and represents a 5% increase over the fourth quarter of 2019.
Past Performance
Most Popular
Key highlights from CarMax (KMX) Q2 2023 earnings results
CarMax, Inc. (NYSE:KMX) reported second quarter 2023 earnings results today. Net revenues rose 2% year-over-year to $8.1 billion. Net earnings were $125.9 million, or $0.79 per share, compared to $285.2 million,
Should you buy Domino’s Pizza (DPZ) stock ahead of Q3 earnings?
The fast-food industry is among the worst affected by the inflation-induced dip in consumer confidence, which is weighing on the demand for discretionary items. Domino’s Pizza, Inc. (NYSE: DPZ) is
Infographic: Key highlights from Paychex (PAYX) Q1 2023 earnings results
Paychex Inc. (NASDAQ: PAYX) reported first quarter 2023 earnings results today. Total revenue rose 11% year-over-year to $1.20 billion. Net income grew 14% to $379.2 million, or $1.05 per share,
