Kinder Morgan Earnings: KMI Stock Down on in-Line Q4 EPS

Advertisement

Kinder Morgan earnings (NYSE:KMI) were released late in the day on Wednesday and the company’s results arrived in line with what analysts were calling for in the Wall Street consensus estimate, but its shares were down after the bell as its revenue was below the mark.

Kinder Morgan EarningsThe oil and gas pipeline operator said that for its fourth quarter of its fiscal 2018, it brought in net income of roughly $494 million, which is stronger than the loss that it posted during the same quarter a year ago. This tallied up to roughly 21 cents per share, or 25 cents per share on an adjusted basis when considering non-recurring costs.

Kinder Morgan’s adjusted earnings was in line with what Wall Street was calling for as the average estimate of seven analysts who were polled by Zacks Investment Research was for adjusted earnings of 25 cents per share. The Houston, Texas-based company added that its revenue for the period came in at $3.78 billion, below the Wall Street guidance of $3.91 billion, according to three analysts surveyed by Zacks.

For its fiscal 2018, Kinder Morgan brought in a profit of $1.61 billion, or 66 cents per share. The company’s revenue came in at roughly $14.14 billion.

KMI stock started the day off on a solid note as it climbed steadily throughout the day, finishing Wednesday’s trading up close to 0.9%. However, shares were falling more than 1.8% after the bell after the company posted its results, which included in-line earnings and revenue that missed expectations.


Article printed from InvestorPlace Media, https://investorplace.com/2019/01/kinder-morgan-earnings-kmi-stock/.

©2024 InvestorPlace Media, LLC