Kinetik ( (KNTK) ) has released its Q4 earnings. Here is a breakdown of the information Kinetik presented to its investors.
Kinetik Holdings Inc. is a fully integrated midstream company operating in the Delaware Basin, providing comprehensive services for natural gas, natural gas liquids, crude oil, and water, with a significant presence in both Midland and Houston, Texas.
Kinetik reported a strong financial performance for the fourth quarter and full year 2024, with a net income of $16.2 million for the quarter and $244.2 million for the year. The company also achieved a record Adjusted EBITDA of $971.1 million for the year, reflecting a 16% growth from the previous year.
Key highlights from Kinetik’s financial performance include the completion of strategic acquisitions and expansions, such as the bolt-on acquisition of the Barilla Draw assets and increased equity interest in EPIC Crude Holdings. The company also reported significant progress in its expansion projects, including the construction of the Kings Landing Complex and the ECCC pipeline, which are expected to drive future growth.
Looking ahead, Kinetik has issued a 2025 guidance with an expected Adjusted EBITDA between $1.09 billion and $1.15 billion, indicating continued growth. The company plans to invest between $450 million and $540 million in capital expenditures, focusing on completing ongoing projects and further expansion in New Mexico and Texas.