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
Adobe (ADBE) Q2 adjusted earnings rise on higher revenues
Adobe Inc. (NASDAQ: ADBE) on Thursday reported an increase in revenue and adjusted profit for the second quarter of 2025, amid continued growth in its subscription-based business. The design software
ORCL Earnings: Highlights of Oracle’s Q4 2025 financial report
Technology giant Oracle Corporation (NYSE: ORCL) has reported higher revenues and adjusted earnings for the fourth quarter of 2025. Total revenues increased to $15.9 billion in the May quarter from
Key highlights from Chewy’s (CHWY) Q1 2025 earnings results
Chewy, Inc. (NYSE: CHWY) reported its first quarter 2025 earnings results today. Net sales of $3.12 billion increased 8.3% year-over-year. Net income decreased 6.7% to $62.4 million compared to last
