Kinder Morgan Reports Strong Q3 2026 Results with Record Natural Gas Project Backlog
Kinder Morgan (KMI) reported robust third-quarter 2026 financial results, highlighted by a 22% increase in net income to $764 million and a 9% year-over-year growth in Adjusted EBITDA to $2.18 billion. The company's performance was bolstered by record natural gas project backlogs totaling $13.2 billion and significant increases in terminal export activity, which reached an all-time high of 427,000 barrels per day. Strategic investments are driving long-term growth, including the Southeast Connector Project and the Permian Link Project aimed at serving hyperscalers. Despite a decline in crude and condensate volumes due to operational changes, KMI's full-year guidance has been raised, with Adjusted EPS expected to exceed budget by more than 13%. The company also demonstrated improved leverage, reducing its net debt-to-adjusted EBITDA ratio to 3.5 times.