Summary
Kinder Morgan, Inc. (KMI) reported strong financial performance for the six months ended June 30, 2013. Net income attributable to Kinder Morgan, Inc. was $569 million, a significant increase from a net loss of $105 million in the same period of 2012. This improvement was driven by substantial growth across its key business segments, particularly Natural Gas Pipelines, benefiting from acquisitions and improved operational performance. Total revenues for the six months increased to $6.44 billion from $4.02 billion in the prior year. The company also saw a significant rise in cash provided by operating activities to $1.72 billion from $1.01 billion. Kinder Morgan's strategic acquisitions, including the full integration of El Paso (EP) and Copano Energy, contributed to this robust performance. The company maintained a strong liquidity position with substantial borrowing capacity available under its credit facilities and a solid cash balance, enabling continued investment in growth opportunities and shareholder returns through dividends.
Financial Highlights
46 data points| Revenue | $3.38B |
| Cost of Revenue | $1.25B |
| Gross Profit | $2.13B |
| Operating Expenses | $2.61B |
| Operating Income | $772.00M |
| Interest Expense | $427.00M |
| Net Income | $277.00M |
Key Highlights
- 1Net income attributable to Kinder Morgan, Inc. was $569 million for the six months ended June 30, 2013, a substantial turnaround from a net loss of $105 million in the prior year period.
- 2Total revenues increased to $6.44 billion for the six months ended June 30, 2013, up from $4.02 billion in the same period of 2012.
- 3Cash provided by operating activities increased significantly to $1.72 billion for the six months ended June 30, 2013, from $1.01 billion in the prior year.
- 4The Natural Gas Pipelines segment showed exceptional growth, with EBDA increasing by 256% year-over-year for the six months, driven by acquisitions like EPB and Copano operations.
- 5Kinder Morgan's balance sheet remained strong, with total assets growing to $74.12 billion as of June 30, 2013, up from $68.25 billion at the end of 2012.
- 6The company declared a quarterly dividend of $0.40 per share for the period ending June 30, 2013, representing a 14% increase over the prior year's declared dividends.