Wednesday, July 20, 2016 11:34:19 PM
http://www.streetinsider.com/Earnings/Kinder+Morgan+%28KMI%29+Reports+In-Line+Q2+EPS%3B+Offers+FY16+Outlook/11848473.html
Kinder Morgan (NYSE: KMI) reported Q2 EPS of $0.15, in-line with the analyst estimate of $0.15. Revenue for the quarter came in at $3.14 billion versus the consensus estimate of $3.45 billion.
DCF was $0.47 per share, from $0.50 per share in the same period last year.
2016 Outlook
For 2016, KMI expects to declare dividends of $0.50 per share.
For 2016, KMI's budgeted distributable cash flow was approximately $4.7 billion and budgeted Adjusted EBITDA was approximately $7.5 billion.
Consistent with the updated guidance provided last quarter, the company continues to expect Adjusted EBITDA to be about 3 percent below budget and distributable cash flow to be about 4 percent below budget.
To be consistent with last quarter, this guidance is presented without taking the SNG transaction into account.
KMI does not provide budgeted net income attributable to common stockholders (the GAAP financial measure most directly comparable to distributable cash flow and Adjusted EBITDA) due to the inherent difficulty and impracticality of quantifying certain amounts required by GAAP such as ineffectiveness on commodity, interest rate and foreign currency hedges, unrealized gains and losses on derivatives marked to market, and contingent liabilities.
KMI expects to generate excess cash sufficient to fund its growth capital needs without needing to access capital markets and, after taking into account efforts to improve the balance sheet, expects to end the year with a net debt-to-Adjusted EBITDA ratio of approximately 5.3 times, below the budgeted ratio of 5.5 times. KMI’s growth capital forecast for 2016 is approximately $2.8 billion, a reduction of $500 million from its budget of approximately $3.3 billion.
The overwhelming majority of cash generated by KMI is fee-based and therefore is not directly exposed to commodity prices. The primary area where KMI has commodity price sensitivity is in its CO2 segment, and KMI hedges the majority of its next 12 months of oil production to minimize this sensitivity.
Additionally, KMI continues to closely monitor counterparty exposure and obtain collateral when appropriate. However, the company has operations across a broad range of businesses and has a large customer base, with its average customer representing less than one-tenth of 1 percent of annual revenues. Additionally, approximately two-thirds of KMI’s business is conducted with customers who are end-users of the products KMI transports and stores, such as utilities, local distribution companies, refineries and large integrated firms
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Recent KMI News
- TSMC Revenue Rises 13% in Q1, Alcoa Exceeds EBITDA Expectations Despite Loss, and More Earnings News • IH Market News • 04/18/2024 11:14:18 AM
- Kinder Morgan Reports First Quarter 2024 Financial Results • Business Wire • 04/17/2024 08:05:00 PM
- US Index Futures See Gains, Oil Prices Dip • IH Market News • 04/17/2024 10:59:02 AM
- Kinder Morgan Announces First Quarter ‘24 Earnings Webcast • Business Wire • 04/10/2024 12:30:00 PM
- Kinder Morgan Announces Amy W. Chronis as Nominee for Election to Board of Directors • Business Wire • 04/01/2024 12:30:00 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 03/07/2024 11:18:05 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 02/20/2024 01:56:07 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/01/2024 09:09:50 PM
- Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses • Edgar (US Regulatory) • 01/29/2024 10:16:47 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 01/25/2024 03:37:18 PM
- Wall Street Highlights: Nokia’s Margins Surprise, FAA Halts Boeing Production Expansion, and More • IH Market News • 01/25/2024 11:25:22 AM
- Kinder Morgan to Hold 2024 Investor Day • Business Wire • 01/22/2024 12:00:00 PM
- Wall Street Highlights: Sheryl Sandberg Leaves Meta Board, Intel’s EU Dispute Developments, and More • IH Market News • 01/18/2024 11:04:10 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/17/2024 09:16:45 PM
- Kinder Morgan Reports Fourth Quarter 2023 Financial Results • Business Wire • 01/17/2024 09:05:00 PM
- Wall Street Highlights: Tesla Cuts Prices in Germany, Interactive Brokers Increases Revenue by 17%, and More • IH Market News • 01/17/2024 11:33:30 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/16/2024 11:24:29 PM
- Kinder Morgan Announces Fourth Quarter ‘23 Earnings Webcast • Business Wire • 01/10/2024 01:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/04/2024 10:26:36 PM
- Kinder Morgan Closes on the $1.815 Billion Acquisition of NextEra Energy Partners’ South Texas Assets • Business Wire • 12/28/2023 09:05:00 PM
- NextEra Energy Partners, LP completes sale of Texas natural gas pipeline portfolio • PR Newswire (US) • 12/28/2023 09:05:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/21/2023 09:05:59 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/12/2023 11:44:54 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/11/2023 10:36:06 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 12/08/2023 09:26:07 PM
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