Categories AlphaGraphs, Earnings, Other Industries

Kinder Morgan Q2 earnings fail to impress the street

Kinder Morgan’s (KMI) stock was down 2% in the after-market trading after the headline numbers failed to surpass estimates. Natural Gas division continues its strong performance from the last quarter, offset by weakness in the other segments. The midstream firm’s stock has surged above 34% this year backed by solid first-quarter earnings.

Revenue decreased 6% to $3.2 billion while adjusted earnings improved to 22 cents compared to 21 cents reported last year. However, the top and bottom-line metrics missed analyst consensus. Analysts were expecting sales of $3.59 billion and adjusted earnings of 24 cents per share.

Commenting on the quarter’s performance, President Kim Dang stated, “Led by the Natural Gas Pipelines segment, our commercial, financial, and operating performance in the second quarter was very strong.”

Kinder Morgan Q2 2019 earnings infographic

Distributable cash flow (DCF) grew modestly to $1.13 billion from $1.12 billion backed by lower cost of funding and solid results from the Natural Gas segment. On a per-share basis, DCF was flat at 50 cents per share with a surplus of $559 million post dividend payments.

The company added $400 million worth of new projects with the total backlog at the end of Q2 coming in at $5.7 billion.  However, this is a decrease of $400 million from the last quarter. Even though Natural Gas Pipelines brings in the majority of the new orders, other divisions performance has been a concern for investors.

Projects Update

Last month, the Texas court has given the nod to the firm to resume work on the $2 billion natural gas pipeline from Western Texas to the Gulf Coast. Kinder Morgan is confident of completing the Gulf Coast Express Pipeline project and Permian Highway Pipeline project by October this year, which would help the firm to ship more natural gas from the Permian Basin.

The midstream major also added that the Elba Liquefaction Project is behind schedule. However, it is about to start the first liquefaction train for service, which was supposed to have commenced in May.

Looking Back

Last quarter, the pipeline giant reported flat revenues while earnings growth was aided by a 12% increase from the natural gas pipeline division. The company also guided the distributable cash flow of $5 billion and adjusted EBITDA of $7.8 billion for the fiscal 2019 period. It also plans to invest $3.1 billion in growth projects and joint ventures.

Get access to timely and accurate verbatim transcripts that are published within hours of the event

Most Popular

MU Earnings: Micron’s Q4 profit declines but beats estimates

Micron Technology Inc. (NASDAQ: MU) Thursday said its fourth-quarter profit declined from last year, hurt by a sharp fall in revenues. Earnings, however, beat the market’s projection. On an adjusted

What are Philip Morris’ (PM) anticipations for the near term?

Shares of Philip Morris International Inc. (NYSE: PM) were down 1% on Thursday. The stock has dropped over 9% year-to-date. Although the tobacco industry has felt the pinch of inflation,

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,

Comments

  1. Pingback: teak furniture
  2. Pingback: Heavy News
  3. Pingback: Heavy R
  4. Pingback: ff tool pro
  5. Pingback: cheap
  6. Pingback: xanax
  7. Pingback: Thoptv
  8. Pingback: TikTok 18
  9. Pingback: Epaviste gratuit
  10. Pingback: Epaviste
  11. Pingback: épave automobile
  12. Pingback: enlevement epave
  13. Pingback: Epaviste
  14. Pingback: épave automobile
  15. Pingback: enlevement epave
  16. Pingback: Epaviste
  17. Pingback: Epaviste gratuit
  18. Pingback: Epaviste gratuit
  19. Pingback: Epaviste
  20. Pingback: épave automobile
  21. Pingback: Epaviste
  22. Pingback: enlevement epave
  23. Pingback: enlevement epave
  24. Pingback: เว็บ123
  25. Pingback: naza
  26. Pingback: ไพ่แคง
  27. Pingback: คาสิโน
  28. Pingback: sa casino
  29. Pingback: sexy
  30. Pingback: 500mg THC Gummies
  31. Pingback: Marijuana delivery
  32. Pingback: ps5 on sale
  33. Pingback: enlevement epave
  34. Pingback: épave automobile
  35. Pingback: Unity
  36. Pingback: white runtz
  37. Pingback: Glock 43x for Sale
  38. Pingback: Cute Wallpapers
  39. Pingback: bio oil
  40. Pingback: Buy This Domain
  41. Pingback: Promotional models
  42. Pingback: delta 8 juul pods
  43. Pingback: Hennessy XO Cognac
  44. Pingback: Buy This Domain
  45. Pingback: สล็อต pg
  46. Pingback: vintage art framed
  47. Pingback: poster 1988
  48. Pingback: dexedrine for sale
  49. Pingback: slayer sneakers
  50. Pingback: slayer sneakers
  51. Pingback: w320axgf-9-bxr3-r2
  52. Pingback: maui tile
  53. Pingback: tile lowe's
  54. Pingback: fiona tile
  55. Pingback: Buy MDMA Online
  56. Pingback: Buy Crack Online
  57. Pingback: MDMA for Sale
  58. Pingback: zemits sonosilk
  59. Pingback: zemits abigon
  60. Pingback: ealth news
  61. Pingback: cookies
  62. Pingback: breaking news
  63. Pingback: gadgets
  64. Pingback: Movies
  65. Pingback: click site
  66. Pingback: go now
  67. Pingback: blog
  68. Pingback: go to these guys
  69. Pingback: Visit Your URL
  70. Pingback: blog here
  71. Pingback: go to these guys
  72. Pingback: زواج
  73. Pingback: igcse
  74. Pingback: 45 ACP Ammo
  75. Pingback: Firearms Site
  76. Pingback: Glock 17 for Sale
  77. Pingback: Colt 1911 for Sale
  78. Pingback: 9mm Ammo
  79. Pingback: spytostyle.com
  80. Pingback: spytostyle.com
  81. Pingback: SpyToStyle
  82. Pingback: 1r88.vip
  83. Pingback: soi cau 247
  84. Pingback: bet789
  85. Pingback: tải game bài
  86. Pingback: so em xui la gi
  87. Pingback: yacht rental miami

Comments are closed.

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top