NYSE$KMI
Kinder Morgan Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Reported a solid quarter with increased financial contributions from Natural Gas Pipelines and Terminals, and earnings per share (EPS) up 17% Compared to Third Quarter 2023.
Kinder Morgan reported a solid third quarter with strong operational and financial performance, driven by increased contributions from the Natural Gas Pipelines and Terminals business segments. The company continues to internally fund high-quality capital projects and generate substantial cash flow. They finalized the investment decision with respect to a $455 million expansion on the Gulf Coast Express Pipeline.
- Third quarter earnings per share (EPS) of $0.28, up 17% compared to the third quarter of 2023.
- Adjusted EBITDA of $1,880 million, up 2% from $1,835 million in the third quarter of 2023.
- Generated cash flow from operations of $1.2 billion, and $0.6 billion in free cash flow (FCF) after capital expenditures.
- Project backlog at the end of the third quarter was $5.1 billion.
Headline financials
Revenue & EPS history
Kinder Morgan · Revenue · Quarterly
$3.7B
Forward guidance
Kinder Morgan expects to be below budget on Adjusted EBITDA by approximately 2% and on Adjusted EPS by approximately 4%, although we expect Adjusted EBITDA to be up 5% and Adjusted EPS to be up 9% for the full year versus 2023. We expect to end the year with a Net Debt-to-Adjusted EBITDA ratio of 4.0 times.
Tailwinds
- Expects Adjusted EBITDA to be up 5% for the full year versus 2023.
- Expects Adjusted EPS to be up 9% for the full year versus 2023.
- Expects to declare dividends of $1.15 per share for 2024, a 2% increase from the dividends declared for 2023.
- Budgeted 2024 DCF of $5 billion ($2.26 per share), Adjusted EBITDA of $8.16 billion, both up 8% versus 2023.
- Expects to end 2024 with a Net Debt-to-Adjusted EBITDA ratio of 3.9 times.
Headwinds
- Due to lower than budgeted commodity prices.
- Start-up delays on our RNG facilities.
- Expects to be below budget on Adjusted EBITDA by approximately 2%.
- Expects to be below budget on Adjusted EPS by approximately 4%.
- Expects to end the year with a Net Debt-to-Adjusted EBITDA ratio of 4.0 times.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
-0.1%
Avg return
Earnings day
-0.2%
Avg return
5 days after
+0.2%
Avg return
30 days after
47%
29 / 62 earnings
Positive
+10.6%
Q4 2015
Best reaction
-6.8%
Q3 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.2% | -0.1% | +6.2% | |
| Q4 2025 | +1.6% | +3.5% | +14.5% | |
| Q3 2025 | -4.8% | -5.4% | -2.1% | |
| Q2 2025 | -0.7% | -1.0% | +2.7% | |
| Q1 2025 | +0.6% | -1.3% | +4.2% | |
| Q4 2024 | -1.0% | -10.8% | -14.2% | |
| Q3 2024 | +0.2% | -0.1% | +10.1% | |
| Q2 2024 | +4.0% | +8.0% | +4.2% | |
| Q1 2024 | +2.9% | +6.4% | +11.4% | |
| Q4 2023 | -2.9% | -3.7% | -4.0% | |
| Q3 2023 | -1.8% | -2.0% | -2.1% | |
| Q2 2023 | +2.1% | +4.8% | +0.9% | |
| Q1 2023 | -2.0% | -0.5% | -6.7% | |
| Q4 2022 | -0.4% | -0.3% | -5.8% | |
| Q3 2022 | -3.7% | -2.8% | +3.7% | |
| Q2 2022 | +2.0% | +4.1% | +8.1% | |
| Q1 2022 | +1.0% | -5.1% | -2.9% | |
| Q4 2021 | -1.5% | -2.1% | -6.2% | |
| Q3 2021 | -5.0% | -3.3% | -12.4% | |
| Q2 2021 | +0.0% | +2.1% | -8.8% | |
| Q1 2021 | -1.1% | +2.2% | +13.1% | |
| Q4 2020 | -1.9% | -1.9% | -3.8% | |
| Q3 2020 | +2.2% | -2.4% | +12.4% | |
| Q2 2020 | -4.0% | -5.9% | -6.5% | |
| Q1 2020 | -1.7% | +3.9% | +6.6% | |
| Q4 2019 | +4.0% | +1.7% | +5.8% | |
| Q3 2019 | -0.5% | -0.1% | +1.3% | |
| Q2 2019 | -2.3% | -0.7% | -3.7% | |
| Q1 2019 | -2.1% | +1.1% | +2.0% | |
| Q4 2018 | +2.3% | +4.0% | +8.5% | |
| Q3 2018 | +0.1% | -2.7% | -3.6% | |
| Q2 2018 | +1.7% | +0.1% | +1.5% | |
| Q1 2018 | +3.2% | +2.6% | +0.3% | |
| Q4 2017 | -2.0% | +1.2% | -12.0% | |
| Q3 2017 | -0.2% | -3.0% | -8.9% | |
| Q2 2017 | +5.4% | +4.3% | -4.9% | |
| Q1 2017 | -2.1% | -2.5% | -7.8% | |
| Q4 2016 | -0.4% | -1.8% | -3.5% | |
| Q3 2016 | +5.0% | +7.1% | +7.4% | |
| Q2 2016 | -4.5% | -4.9% | +1.5% | |
| Q1 2016 | -5.2% | — | — | |
| Q4 2015 | +10.6% | — | — | |
| Q3 2015 | -6.8% | — | — | |
| Q2 2015 | -1.6% | — | — | |
| Q1 2015 | +1.6% | — | — | |
| Q4 2014 | +0.6% | — | — | |
| Q3 2014 | +6.7% | — | — | |
| Q2 2014 | +1.8% | — | — | |
| Q1 2014 | +2.6% | — | — | |
| Q4 2013 | +0.1% | — | — | |
| Q3 2013 | +0.5% | — | — | |
| Q2 2013 | -0.6% | — | — | |
| Q1 2013 | -1.2% | — | — | |
| Q4 2012 | +1.3% | — | — | |
| Q3 2012 | -0.7% | — | — | |
| Q2 2012 | -0.7% | — | — | |
| Q1 2012 | -1.8% | — | — | |
| Q4 2011 | +1.0% | — | — | |
| Q3 2011 | +1.3% | — | — | |
| Q2 2011 | -6.5% | — | — | |
| Q1 2011 | +1.1% | — | — | |
| Q4 2010 | +1.1% | — | — | |
| Q3 2010 | — | — | — | |
| Q2 2010 | — | — | — | |
| Q1 2010 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro