Quarterly ResultJul 22, 2026, 04:13 PM
Kinder Morgan Reports Record Q2 Net Income $867M, EPS $0.39
AI Summary
Kinder Morgan, Inc. reported record second quarter 2026 financial results, with net income attributable to KMI reaching $867 million, a 21% increase year-over-year, and Adjusted EBITDA hitting $2,199 million, up 12%. The company also announced a Q2 cash dividend of $0.2975 per share, a 2% increase from the prior year. KMI placed approximately $660 million in expansion projects into service, including the Cumberland Project, Hiland Express, and Gulf Coast Express expansion, while maintaining a strong balance sheet with a Net Debt-to-Adjusted EBITDA ratio of 3.6 times. The company expects to exceed its 2026 budget for Adjusted EBITDA and Adjusted EPS.
Key Highlights
- Q2 Net Income attributable to KMI: $867 million, a record high, up 21% year-over-year.
- Q2 Adjusted EBITDA: $2,199 million, a record high, up 12% year-over-year.
- Q2 EPS: $0.39, up 22% year-over-year; Adjusted EPS: $0.37, up 32% year-over-year.
- Board approved Q2 cash dividend of $0.2975 per share, a 2% increase over Q2 2025.
- Approximately $660 million (KM-share) in expansion projects were placed into service.
- Project backlog at quarter-end was $9.6 billion, down $500 million from Q1 2026.
- 2026 outlook: Adjusted EBITDA expected to be >5% favorable to budget, Adjusted EPS >12% favorable.
- Net Debt-to-Adjusted EBITDA ratio ended at 3.6 times, at the low end of the target range.
Price Impact
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