Summary
Kinder Morgan, Inc. (KMI) reported strong financial results for the first quarter of 2013, with net income attributable to Kinder Morgan, Inc. soaring to $292 million, a significant increase from $21 million in the same period of 2012. This growth was largely driven by the successful integration of assets acquired from El Paso Corporation (EP) in May 2012 and a favorable one-time gain on the sale of investments in the Express pipeline system. Total revenues for the quarter reached $3.06 billion, up substantially from $1.86 billion in the prior year, reflecting both organic growth across its pipeline and terminal segments and the contribution from acquired assets. The company's operating income also more than doubled, indicating improved operational efficiency. Despite increased interest expenses related to its debt, Kinder Morgan demonstrated robust cash flow generation, enabling it to increase dividends and repurchase warrants, signaling confidence in its future performance and commitment to returning value to shareholders.
Financial Highlights
45 data points| Revenue | $3.06B |
| Cost of Revenue | $970.00M |
| Gross Profit | $2.09B |
| Operating Expenses | $2.04B |
| Operating Income | $1.02B |
| Interest Expense | $402.00M |
| Net Income | $292.00M |
Key Highlights
- 1Net income attributable to Kinder Morgan, Inc. significantly increased to $292 million in Q1 2013, up from $21 million in Q1 2012.
- 2Total revenues grew substantially to $3.06 billion in Q1 2013, compared to $1.86 billion in Q1 2012, driven by acquired assets and segment performance.
- 3Operating income more than doubled, reaching $1.02 billion in Q1 2013 from $516 million in Q1 2012, indicating improved profitability.
- 4The company recognized a significant gain of $225 million from the sale of its investments in the Express pipeline system.
- 5Kinder Morgan's cash flow from operations increased to $767 million in Q1 2013, up from $560 million in Q1 2012, supporting operational and financial flexibility.
- 6Dividends per common share increased to $0.38 in Q1 2013, up from $0.32 in Q1 2012, reflecting the company's commitment to returning capital to shareholders.
- 7The company's debt levels remain substantial, with total debt outstanding at $31.94 billion as of March 31, 2013.