Summary
Kinder Morgan, Inc. (KMI) reported strong financial results for the nine months ended September 30, 2013, with Net Income Attributable to Kinder Morgan, Inc. increasing significantly to $855 million from $95 million in the prior year period. This growth was driven by a substantial increase in Total Revenues, which rose from $6.89 billion to $10.20 billion, reflecting strong performance across its Natural Gas Pipelines, CO2-KMP, Products Pipelines-KMP, and Terminals-KMP segments. The company's strategic acquisitions, including the full integration of EP and the recent acquisition of Copano by KMP, contributed significantly to this revenue and profitability growth. Total Assets grew to $74.57 billion from $68.24 billion at year-end 2012, largely driven by increases in Property, plant and equipment and Goodwill, reflecting ongoing investments and acquisitions. Despite an increase in Total Liabilities to $46.27 billion from $44.15 billion, the company's equity base also expanded, with Total Stockholders' Equity reaching $28.30 billion. KMI also demonstrated a commitment to shareholder returns, with declared dividends per common share increasing from $1.03 to $1.19 for the nine-month period, supported by robust cash flow generation.
Financial Highlights
47 data points| Revenue | $3.76B |
| Cost of Revenue | $1.54B |
| Gross Profit | $2.21B |
| Operating Expenses | $2.71B |
| Operating Income | $1.04B |
| Interest Expense | $418.00M |
| Net Income | $286.00M |
Key Highlights
- 1Kinder Morgan reported a significant increase in Net Income Attributable to KMI to $855 million for the nine months ended September 30, 2013, up from $95 million in the prior year period.
- 2Total Revenues surged to $10.20 billion for the nine months ended September 30, 2013, a substantial increase from $6.89 billion in the same period of 2012.
- 3Total Assets grew to $74.57 billion as of September 30, 2013, from $68.24 billion at December 31, 2012, indicating continued investment and acquisition activity.
- 4The company's cash flow from operations remained strong, with Net Cash Provided by Operating Activities totaling $2.78 billion for the nine months ended September 30, 2013, an increase from $1.93 billion in the prior year period.
- 5Dividends per common share increased to $1.19 for the nine months ended September 30, 2013, compared to $1.03 for the same period in 2012, reflecting the company's commitment to returning capital to shareholders.
- 6The Natural Gas Pipelines segment showed particularly strong growth, with EBDA increasing 122% year-over-year for the nine-month period, largely due to the impact of acquisitions like EP and Copano.
- 7Total long-term debt increased to $33.04 billion as of September 30, 2013, from $32.00 billion at December 31, 2012, reflecting ongoing financing activities related to growth and acquisitions.