Kinder Morgan (NYSE:KMI) earnings for the oil infrastructure company’s fourth quarter of 2019 have KMI stock up on Wednesday. That’s thanks to its adjusted earnings per share of 26 cents, which matches Wall Street’s estimates. Revenue of $3.35 billion is below analysts’ estimates of $3.62 billion but isn’t keeping KMI stock down.
Now for the closer look at the most recent Kinder Morgan earnings report.
- Adjusted EPS comes in 4% higher than the 25 cents reported during the same time last year.
- Revenue for the quarter is down 11.38% from $3.78 billion in the fourth quarter of 2018.
- Operating income of $1.93 billion is an 82.08% increase YoY from $1.06 billion.
- The Kinder Morgan earnings report also includes a net income of $627 million.
- This is a 24.90% boost from its net income of $502 million in the same period of the year prior.
Steve Kean, CEO of Kinder Morgan, says this about the KMI stock earnings.
“Our company had another strong quarter with earnings from our base business augmented by the two major projects placed in service during the third and fourth quarters of 2019, Gulf Coast Express Pipeline (GCX) and the Elba Liquefaction project. We also received several approvals from the Federal Energy Regulatory Commission (FERC) for important natural gas projects and are executing on high-return expansion projects in each of our business units.”
The Kinder Morgan earnings report also includes dividend news. The company is going to be paying out a dividend of 25 cents per share on Feb. 18, 2020. The dividend is payable to KMI stock holders on record Feb. 3, 2020.
KMI stock was up slightly after markets closed on Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
