Energy infrastructure company Kinder Morgan, Inc. (NYSE: KMI) Thursday reported higher adjusted earnings for the second quarter of 2024, aided by an increase in revenues. The company also issued guidance for the full fiscal year.
Net income, adjusted for special items, increased to $0.25 per share in Q2 from $0.24 per share a year earlier. Net income attributable to shareholders, on an unadjusted basis, was $575 million or $0.26 per share in the second quarter, compared to $586 million or $0.26 per share in the same period of 2023.
Revenues increased to $3.57 billion in the June quarter from $3.50 billion in the prior year quarter. The company expects distributable cash flow to be $5 billion and adjusted EBITDA to be $8.16 billion at the end of fiscal 2024.
