Kinder Morgan, Inc. (NYSE: KMI) reported third quarter 2020 earnings results today.
Revenues fell 9% to $2.9 billion compared to the same period last year.
Net income attributable to Kinder Morgan fell 10% to $455 million while EPS dropped 9% to $0.20. Adjusted EPS declined 5% to $0.21.
For 2020, Kinder Morgan previously estimated DCF of approx. $5.1 billion ($2.24 per common share) and adjusted EBITDA of approx. $7.6 billion. Due to reduced energy demand and the sharp decline in commodity prices owing to the pandemic, the company expects DCF to be below plan by slightly more than 10% and adjusted EBITDA to be below plan by slightly more than 8%.
