EBITDA rose 6% and adjusted EPS grew 16% year-over-year; net income of $628 million and EPS of $0.28 matched Q3 2024, while the quarterly dividend was increased 2% to $0.2925/share (annualized $1.17), and net debt/EBITDA improved to 3.9×.
Natural gas transport volumes were up 6% and gathering volumes up 9% versus Q3 2024 (and 11% sequentially); full-year gathering volumes are now expected to finish 5% above 2024, while refined product and crude volumes dipped slightly; terminals utilization remains high at 95%.
Expansion backlog held steady at $9.3 billion, and the company is pursuing over $10 billion of additional mostly natural gas projects (LNG export, power, Mexico exports), supporting long-term EBITDA and EPS growth.
Year-to-date net debt increased by $544 million, driven by $4.225 billion of operating cash flow, $1.95 billion of dividends, $2.245 billion of capital spending, and a $650 million acquisition; Fitch upgraded KMI to BBB+ in August.

Oct 22, 2025, 8:30 PM

Kinder Morgan details $9B project backlog and $2.5B annual capex plan

KMI

New Projects/Investments

Guidance Update

Kinder Morgan boasts the largest U.S. interstate natural gas network, touching 40% of domestic production and supplying 45% of LNG feed gas, 40% of Southern power generation, and 50% of cross-border flows to Mexico.
The company has $9 billion of sanctioned projects and sees over $10 billion of additional opportunities across Texas, Louisiana, the Southeast, the West Coast and its NGPL corridor, with some projects targeting sanction in Q1–Q2 2026.
Kinder Morgan plans to spend approximately $2.5 billion annually on growth projects, targeting single-digit EBITDA growth and high single-digit EPS growth while reducing leverage from the current 3.9x debt/EBITDA toward its 3.5–4.5x goal.
Permitting timelines have improved, with FERC certificate processes accelerated by over five months, though equipment lead times—especially for compressor units—are tightening, prompting early procurement plans.
On LNG, the company secures take-or-pay contracts to underpin infrastructure investments, expecting U.S. export facilities to remain competitive and well-utilized amid potential global capacity overbuilds.

Sep 30, 2025, 2:50 PM

Kinder Morgan raises natural gas demand outlook and details major project backlog

KMI

Guidance Update

New Projects/Investments

Kinder Morgan raised its U.S. natural gas demand forecast to 28 Bcf/d between 2025 and 2030, driven by 20 Bcf/d of LNG export growth versus WoodMac’s 22 Bcf/d projection.
The $1.8 B Trident pipeline expansion will add 2 Bcf/d of capacity, increasing Kinder’s contracted LNG feed gas from 8 to 12 Bcf/d and supporting 11 Bcf/d of LNG transport by 2027.
Project backlog grew from $3 B to $9.3 B over the past year, yet the overall $7–$11 B opportunity set remains intact; approximately 50 % of the backlog is power-related, leveraging a 63 Bcf/d interstate system.
Kinder will maintain a $2.5 B annual expansion CapEx run rate funded by internal cash flow, with debt/EBITDA at 3.9× (target range 3.5–4.5×), enabling continued growth and modest dividend increases.

Sep 3, 2025, 3:14 PM

Kinder Morgan reports Q2 2025 earnings and project updates

KMI

Earnings

Dividends

New Projects/Investments

Adjusted EBITDA rose 6% and adjusted EPS advanced 12% year-over-year in Q2 2025.
Net income reached $715 million (up 24% YoY) with EPS of $0.32, and the quarterly dividend was increased 2% to $0.295 per share.
Project backlog grew to $9.3 billion from $8.8 billion, fueled by $1.3 billion of new awards and $0.75 billion placed in service; ~50% of backlog serves power demand with a 5.6× multiple.
Approved $500 million of CapEx for the Kinderhawk Haynesville gathering expansion, with full facilities expected in service by Q4 2026.
Permitting has accelerated under FERC Order 871, featuring a 50% increase in the prior-notice limit and a one-year waiver of the five-month waiting period.

Jul 16, 2025, 11:35 PM

Kinder Morgan Initiates Senior Notes Debt Offering

KMI

Debt Issuance

Kinder Morgan, Inc. has entered into an underwriting agreement on April 22, 2025, to sell $1.1 billion of 5.150% Senior Notes maturing in 2030 and $750 million of 5.850% Senior Notes maturing in 2035.
The offering details include distinct pricing for public issuance and underwriter purchase, with interest payable semi-annually beginning December 1, 2025, and a closing date set for May 1, 2025.
The proceeds are intended for general corporate purposes, including refinancing upcoming debt maturities and repaying commercial paper borrowings, and the notes are fully guaranteed without security.

Apr 25, 2025, 12:00 AM

[Kinder Morgan Q1 2025 Results: Strong Financials, Dividend Increase & Investment Expansion]

KMI

Earnings

Dividends

New Projects/Investments

M&A

Q1 2025 Financial Performance: Reported net income of $717 million, Adjusted EBITDA of $2,157 million, and robust operational cash flow of $1.2 billion amid challenging market conditions .
Dividend Announcement: Approved a cash dividend of $0.2925 per share (annualized $1.17), a 2% increase over Q1 2024, with the dividend payable on May 15, 2025 .
Capital Investments & Expansion: Expanded its project backlog to $8.8 billion and completed a $640 million acquisition of Outrigger Energy II’s gathering and processing system, underpinning further investments in power and pipeline expansion .
Strong Natural Gas Demand: Achieved record natural gas demand with a 10% increase in residential/commercial usage and a 15% rise in LNG demand .
Financial Balance Sheet Note: Despite a 4% decline in net income due to unfavorable hedge mark-to-market impacts, adjusted EPS remained stable; net debt stood at $32.8 billion with a 4.1x net debt-to-EBITDA ratio .

Apr 16, 2025, 8:31 PM

Filings & Transcripts

Recent SEC filings and earnings call transcripts for KMI.

No recent filings or transcripts found for KMI.