Summary
Kinder Morgan, Inc. (KMI) reported solid operational performance for the year ended December 31, 2024, with total revenues of $15.1 billion, a slight decrease of 2% compared to the prior year, primarily driven by lower product and natural gas sales volumes and prices. Despite revenue headwinds, the company demonstrated improved operating income and net income, reflecting efficient cost management and contributions from its Natural Gas Pipelines segment, which saw increased Segment EBDA due to higher volumes and rates on its Texas intrastate systems and the positive impact of acquired assets. The company announced its intention to increase its 2025 dividend by 2% to $1.17 per share and plans significant discretionary capital expenditures of $2.3 billion, signaling confidence in its future growth and shareholder returns. Key areas of development include expansion projects and a significant acquisition in North Dakota expected to close in Q1 2025, reinforcing KMI's commitment to expanding its network and serving growing energy markets.
Financial Highlights
47 data points| Revenue | $15.10B |
| Operating Expenses | $10.72B |
| Operating Income | $4.38B |
| Net Income | $2.61B |
| EPS (Basic) | $1.17 |
| EPS (Diluted) | $1.17 |
| Shares Outstanding (Basic) | 2.22B |
| Shares Outstanding (Diluted) | 2.22B |
Key Highlights
- 1Kinder Morgan reported total revenues of $15.1 billion for 2024, a slight 2% decrease year-over-year, primarily due to lower product and natural gas sales, partially offset by increased services revenue and higher RIN sales.
- 2Net income attributable to Kinder Morgan increased by 9% to $2.61 billion, with diluted EPS growing to $1.17 from $1.06 in the prior year, indicating improved profitability.
- 3The company plans to increase its 2025 dividend by 2% to $1.17 per share, demonstrating a commitment to returning value to shareholders.
- 4Expansion projects are a key focus, with $2.3 billion planned for discretionary capital expenditures in 2025, including significant investments in natural gas pipelines.
- 5KMI announced the acquisition of a natural gas gathering and processing system in North Dakota for $640 million, expected to close in Q1 2025, enhancing its Williston Basin presence.
- 6The Natural Gas Pipelines segment saw a 6% increase in Segment EBDA, driven by higher demand, rates, and the positive impact of acquired STX Midstream assets.
- 7The company's financial health remains stable, with a $3.5 billion credit facility providing significant liquidity, and a manageable debt-to-EBITDA ratio.