Quarterly ResultMay 7, 2026, 06:08 AM
Kinetik Reports Record Q1 2026 Adjusted EBITDA $251.2M
AI Summary
Kinetik Holdings Inc. reported record first quarter 2026 financial results, with Adjusted EBITDA reaching $251.2 million, exceeding internal expectations. The company posted a net loss of $5.1 million, Distributable Cash Flow of $180.8 million, and Free Cash Flow of $101.4 million. Kinetik also affirmed its full year 2026 financial guidance for Adjusted EBITDA and Capital Expenditures, while successfully extending key Durango gas gathering and processing agreements and securing approvals for the Kings Landing acid gas injection project.
Key Highlights
- Record Q1 2026 Adjusted EBITDA of $251.2 million.
- Net loss including noncontrolling interest of $5.1 million.
- Distributable Cash Flow of $180.8 million.
- Free Cash Flow of $101.4 million.
- Midstream Logistics Adjusted EBITDA increased 12% year-over-year to $178.9 million.
- Pipeline Transportation Adjusted EBITDA decreased nearly 17% year-over-year to $78.0 million.
- Affirmed full year 2026 Adjusted EBITDA guidance of $950 million to $1,050 million.
- Amended multiple Durango gas gathering and processing agreements, extending terms to 2039.