The company’s performance surpassed market expectations, with adjusted earnings hitting 37 cents a share against the 32 cents projected by FactSet analysts. Revenue climbed to $4.48 billion, comfortably beating the $4.22 billion consensus. Executive Chairman Richard Kinder attributed this growth to the sustained utilization of the firm's extensive pipeline and storage network, driven largely by the global appetite for liquefied natural gas exports.
In section Market Quotes
Kinder Morgan Profit Climbs on Natural Gas Export Surge
Rising demand for natural gas has fueled a stronger-than-expected second quarter for Kinder Morgan, with the Houston-based infrastructure firm reporting a profit of $867 million. The results, bolstered by industrial expansion and increased power needs, have prompted the company to raise its earnings outlook for the remainder of the year.
While the company’s project backlog dipped to $9.6 billion as several major ventures moved into active service, the development pipeline remains robust. Chief Executive Kim Dang confirmed that the board has already greenlit nearly $400 million in new projects not yet accounted for in that total. Based on current momentum, Kinder Morgan anticipates full-year adjusted earnings per share will exceed its original $1.36 forecast by 12%.
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