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Jun 30
Kinder Morgan Q2 2025 Earnings Report
Kinder Morgan reported solid Q2 2025 results with higher earnings and strong natural gas pipeline performance.
Key Takeaways
Kinder Morgan delivered strong Q2 2025 results, driven by record Adjusted EBITDA and robust natural gas pipeline performance. Net income and EPS increased, while project backlog expanded to $9.3 billion.
Net income rose to $715 million, supported by strong natural gas pipelines and terminals performance.
Adjusted EBITDA reached a record $1.97 billion.
Project backlog increased to $9.3 billion, with 93% from natural gas projects.
Declared dividend grew to $0.2925 per share, marking a 2% increase from Q2 2024.
Kinder Morgan
Kinder Morgan
Kinder Morgan Revenue by Segment
Revenue by Segment
Natural Gas Pipelines Revenue
CapyFin.comProducts Pipelines Revenue
CapyFin.comTerminals Revenue
CapyFin.comCO2 Revenue
CapyFin.com Forward Guidance
Kinder Morgan expects to exceed its 2025 budget due to contributions from the Outrigger Energy II acquisition and strong natural gas demand outlook.
Positive Outlook
- Project backlog increased to $9.3 billion, mostly natural gas projects.
- LNG demand growth expected to drive future volumes.
- Long-term contracts to move nearly 12 Bcf/d to LNG facilities by 2028.
- Net income forecasted at $2.8 billion for 2025.
- 2025 Adjusted EBITDA projected at $8.3 billion.
Challenges Ahead
- Tarrif escalations may slightly impact project economics.
- Gathering volumes declined 6% YoY, especially in Haynesville system.
- CO2 segment earnings pressured by lower commodity prices.
- Bulk terminal tonnage slightly down from prior year.
- Natural gas gathering volumes expected to remain weak in certain basins.