Kinder Morgan reports Q3 EPS 24c, consensus 26c

Reports Q3 revenue $3.91B, consensus $4.71B. “During the quarter the company experienced the second management succession in its history, but our time-tested strategy remains the same,” said Executive Chairman Richard D. Kinder. “We return value to shareholders while maintaining a strong balance sheet. We internally fund capital projects that produce returns well in excess of our cost of capital – including high-grade projects that are part of the ongoing energy evolution toward a lower carbon future. We pay a healthy and growing dividend with robust coverage. Our current dividend and stock price place the company in the top 5% for yield in the S&P 500. We further returned value to shareholders by continuing the opportunistic repurchasing of our shares, totaling more than 28 million repurchased shares for approximately $472 million so far this year.”