Kinder Morgan Inc. (NYSE: KMI) reported second quarter 2020 earnings results today.
Revenues dropped to $2.56 billion from $3.21 billion in the same period last year.
Net loss was $637 million, or $0.28 per share, compared to net income of $518 million, or $0.23 per share, last year. Adjusted EPS fell 23% to $0.17.
For 2020, Kinder Morgan had earlier estimated DCF to be approx. $5.1 billion, or $2.24 per common share, and adjusted EBITDA to be approx. $7.6 billion. Due to the reduced energy demand and the sharp decline in commodity prices caused by the pandemic, the company now expects DCF to be below plan by slightly more than 10% and adjusted EBITDA to be below plan by slightly more than 8%.
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