Kinder Morgan Reports Strong Q3 Earnings Driven by Record Natural Gas Project Backlog
Kinder Morgan (KMI) reported robust third-quarter financial results, highlighted by a 21% year-over-year increase in earnings per share to $0.34 and a 9% rise in adjusted EBITDA. The company also announced a 2% dividend hike, supported by its ability to fund capital expenditures through self-generated cash flows while maintaining a stable leverage profile. A critical driver for future growth is the company's expanding project backlog, which reached $14.4 billion this quarter, including a record $13.2 billion in natural gas projects. These expansions are bolstered by long-term 'take-or-pay' contracts with creditworthy counterparties such as LNG exporters and hyperscalers serving AI data centers. Once completed, these projects are expected to add approximately $2.5 billion in adjusted EBITDA, significantly boosting the company's long-term revenue visibility.
Tickers: $KMI
Topics: backlog growth dividend hike earnings report natural gas pipelines take-or-pay contracts
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