Energy infrastructure company Kinder Morgan, Inc. (NYSE: KMI) has reported an increase in third-quarter profit, aided by a 35% growth in revenues.
Third-quarter profit, excluding special items, moved up to $0.25 per share from $0.22 per share in the corresponding period of last year. Net income attributable to shareholders was $576 million or $0.25 per share, compared to $495 million or $0.22 per share last year.
The positive bottom-line performance reflects a 35% surge in revenues to $5.18 billion. The company also provided guidance for the full fiscal year.
Kinder Morgan Q3 2022 Earnings Call Transcript
“As we continue to witness the tragic consequences of the war in Ukraine, including global economic turbulence and volatility, our company and the U.S. energy sector as a whole can take some measure of pride in continuing to provide both our citizens and those around the world with natural gas, refined products, and crude oil,” said the company’s executive chairman Richard Kinder.