Kinder Morgan reports Q2 adjusted EPS 24c, consensus 24c

Reports Q2 revenue $3.5B, consensus $4.55B. “As we reiterate every quarter, the KMI board and management team are fully committed to the use of our strong cash flow to benefit our shareholders,” said Executive Chairman Richard D. Kinder. “We focus on maintaining a strong balance sheet while internally funding capital projects that produce returns well in excess of our cost of capital – including projects that are part of the ongoing energy evolution toward a lower carbon future. We also continue to pay a healthy and growing dividend which, based on our current stock price, results in a top 10 yield in the S&P 500 with robust coverage. Finally, we have continued the opportunistic repurchasing of our shares, totaling almost 20 million repurchased shares for approximately $330 million so far this year.”