The call highlighted significant project expansions and growth in backlog, dividend increase, and year-over-year growth in EPS and EBITDA. However, flat quarterly performance, commodity price impacts, and legal challenges indicate areas of concern.

Company Guidance

During the Q3 2024 earnings call for Kinder Morgan (KMI), the executives provided significant insights into the company's operational and financial performance, along with forward-looking guidance. The company announced a $3 billion South system expansion and the expansion of their GCX system in Texas, which will increase capacity by approximately 1.2 Bcf per day and are underpinned by long-term commitments. They expect to grow EPS by 9% and EBITDA by 5% compared to 2023. The current project backlog stands at $5.1 billion, up from $3.8 billion the previous year, reflecting a 34% increase. Transport and gathering volumes showed growth, although there was a slight pullback in gathering volumes expected to rebound with upcoming LNG demand. Financial metrics included a flat EPS for the quarter but a 17% increase in net income compared to Q3 2023. The company declared a dividend of $0.2875 per share, up 2% from the previous year, and maintained a debt to EBITDA ratio of 4.1x, with an overall positive outlook on future opportunities in natural gas infrastructure amid growing demand.

Expansion Projects Announcement

Kinder Morgan announced the approximate $3 billion South system expansion 4 project, underpinned by long-term shipper commitments, and the expansion of their GCX system in Texas.

Backlog Growth

Backlog increased from $3.8 billion in Q3 2023 to $5.1 billion, marking a 34% growth.

Dividend Increase

Declared a dividend of $0.2875 per share, which is $1.15 annualized, up 2% from their 2023 dividend.

Year-Over-Year EPS and EBITDA Growth

EPS increased by 9% and adjusted EBITDA by 5% year-over-year.

Natural Gas Business Growth

Transport volumes increased by 2% and gathering volumes were up 5% in the quarter compared to 2023. Haynesville and Eagle Ford volumes increased by 10% and 9%, respectively.

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Kinder Morgan (KMI) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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KMI Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jan 22, 2025	2024 (Q4)	0.33 / -	0.28	―	―	―
Oct 16, 2024	2024 (Q3)	0.27 / 0.25	0.25	0.00% (0.00)	―
Jul 17, 2024	2024 (Q2)	0.26 / 0.25	0.24	4.17% (+0.01)	―
Apr 17, 2024	2024 (Q1)	0.34 / 0.34	0.3	13.33% (+0.04)	―
Jan 17, 2024	2023 (Q4)	0.30 / 0.28	0.31	-9.68% (-0.03)	―
Oct 18, 2023	2023 (Q3)	0.26 / 0.25	0.25	0.00% (0.00)	―
Jul 19, 2023	2023 (Q2)	0.24 / 0.24	0.27	-11.11% (-0.03)	―
Apr 19, 2023	2023 (Q1)	0.29 / 0.30	0.32	-6.25% (-0.02)
Jan 18, 2023	2022 (Q4)	0.30 / 0.31	0.27	14.81% (+0.04)	―
Oct 19, 2022	2022 (Q3)	0.29 / 0.25	0.22	13.64% (+0.03)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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KMI Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 16, 2024	$24.64	$24.53	-0.45%
Jul 17, 2024	$20.02	$20.53	+2.55%
Apr 17, 2024	$17.06	$17.49	+2.52%
Jan 17, 2024	$16.59	$16.35	-1.45%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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