Summary
Kinder Morgan, Inc. (KMI) reported its financial results for the second quarter and the first six months of 2011. The company demonstrated a significant increase in net income attributable to Kinder Morgan, Inc. for both periods compared to 2010. Specifically, for the second quarter, net income rose to $132.1 million, up from $46.0 million in the prior year's quarter. For the first six months, net income attributable to KMI reached $287.1 million, a substantial improvement from a net loss of $114.9 million in the same period of 2010. This growth was driven by improved segment earnings across several business units, notably in CO2, Terminals, Kinder Morgan Canada, and Natural Gas Pipelines, despite a notable decrease in the Products Pipelines segment. The company's overall revenues saw a modest increase in the second quarter to $2.03 billion from $1.99 billion in the prior year, while revenues for the first six months slightly decreased to $4.04 billion from $4.15 billion. KMI also highlighted strong cash flow from operations, totaling $967.7 million for the first six months of 2011, up from $735.3 million in the comparable 2010 period, underscoring the operational strength and improving financial health of the company. The company continued its strategic investments, with significant capital expenditures aimed at expanding its asset base and enhancing its service offerings.
Financial Highlights
43 data points| Revenue | $1.95B |
| Operating Expenses | $1.72B |
| Operating Income | $236.00M |
| Interest Expense | $174.00M |
| Net Income | $132.00M |
Key Highlights
- 1Kinder Morgan, Inc. reported a significant year-over-year increase in net income attributable to the company, with Q2 net income rising to $132.1 million and six-month net income reaching $287.1 million.
- 2Total revenues for Q2 increased slightly to $2.03 billion, while for the first six months, revenues decreased slightly to $4.04 billion.
- 3Cash flow from operations remained robust, with $967.7 million generated in the first six months of 2011, an increase from $735.3 million in the prior year.
- 4The company continues to invest in its infrastructure, with capital expenditures totaling $539.6 million for the first six months of 2011.
- 5Significant equity transactions occurred, including the IPO in February 2011, which converted KMI from a limited liability company to a corporation, and further equity issuances by KMP.
- 6The company's debt levels remain substantial but manageable, with total long-term debt at $14.0 billion.
- 7Despite operational challenges in certain segments (e.g., Products Pipelines), overall segment earnings before depreciation, depletion, and amortization improved significantly year-over-year.