Kinder Morgan (NYSE:KMI) stock was falling slightly after hours Wednesday as the company reported its latest quarterly earnings results late in the day, which included earnings that came in ahead of what analysts were calling for, but the company’s revenue was below Wall Street’s expectations.
For its third quarter of fiscal 2018, the natural gas company posted earnings of $732 million, which came in at about roughly 31 cents per share. On an adjusted basis when considering non-recurring gains, the company brought in a profit of 21 cents per share.
In the year-ago quarter, Kinder Morgan posted adjusted earnings of 15 cents per share. The company’s results were stronger than what analysts were calling for as its profit for the period was slated to be 20 cents per share, according to the average estimate of eight analysts who were surveyed by Zacks Investment Research.
The company added that it raked in $3.52 billion in revenue for its third quarter of the fiscal year. The figure was below the Wall Street projection in revenue for Kinder Morgan by about 3.11%, while coming in ahead of the year-ago revenue of $3.28 billion.
KMI stock gained about 0.2% on Wednesday during regular trading hours in anticipation of the company’s quarterly earnings results. The earnings beat was not enough to reverse the negative impact that the company’s revenue miss had on its stock, which fell about 0.5% after the bell.
