Energy infrastructure company Kinder Morgan, Inc. (NYSE: KMI) on Wednesday reported an increase in fourth-quarter profit, aided by a 3% growth in revenues.
Fourth-quarter earnings, excluding special items, moved up to $0.31 per share from $0.27 per share in the corresponding period of last year. Net income attributable to shareholders was $670 million or $0.30 per share, compared to $637 million or $0.28 per share last year.
The positive bottom-line performance reflects a 3% growth in revenues to $4.58 billion. The company also provided guidance for fiscal 2023.
Check this space to Read management/analysts’ comments on Kinder Morgan’s Q4 2022 results
“We generated robust earnings and strong coverage of this quarter’s dividend. Company shareholders continue to benefit from our capital-efficient business model that delivers on our time-tested goals: maintain a strong investment-grade balance sheet, internally fund expansion opportunities, pay an attractive and growing dividend, and further reward our shareholders by repurchasing our shares on an opportunistic basis,” said the company’s executive chairman Richard Kinder.