Summary
Kinder Morgan, Inc. (KMI) reported its first-quarter 2014 results, indicating a slight decrease in net income attributable to Kinder Morgan, Inc. to $287 million from $292 million in the prior year's first quarter. Total revenues saw a significant increase, rising to $4.05 billion from $3.06 billion year-over-year, driven by higher natural gas sales and services. The company's operating income also grew to $1.15 billion from $1.02 billion. Key financial activities during the quarter included a substantial increase in cash flow from operating activities, reaching $1.12 billion, up from $767 million in Q1 2013. This was supported by strong performance across several segments, particularly Natural Gas Pipelines and Terminals. However, investing activities showed a significant net cash outflow of $1.82 billion, largely due to the acquisition of American Petroleum Tankers (APT) and State Class Tankers (SCT) by KMP for $960 million. Financing activities provided a net cash inflow of $626 million, primarily from increased debt issuances across KMI and its subsidiaries, which helped fund operations and acquisitions.
Financial Highlights
49 data points| Revenue | $4.05B |
| Cost of Revenue | $1.64B |
| Gross Profit | $2.40B |
| Operating Expenses | $2.90B |
| Operating Income | $1.15B |
| Net Income | $287.00M |
| EPS (Diluted) | $0.28 |
| Shares Outstanding (Diluted) | 1.03B |
Key Highlights
- 1Total revenues increased by 32.1% to $4.05 billion in Q1 2014 compared to $3.06 billion in Q1 2013, driven by growth in Natural Gas Sales and Services.
- 2Net income attributable to Kinder Morgan, Inc. decreased slightly to $287 million ($0.28 per share) from $292 million ($0.28 per share) in the same period last year.
- 3Operating income increased by 13.1% to $1.15 billion from $1.02 billion.
- 4Cash flow from operating activities saw a significant increase of 45.8%, totaling $1.12 billion for Q1 2014, up from $767 million in Q1 2013.
- 5The company completed the acquisition of American Petroleum Tankers (APT) and State Class Tankers (SCT) for $960 million through its subsidiary KMP.
- 6Debt levels increased, with total long-term debt rising to $34.8 billion from $33.9 billion, reflecting borrowings for acquisitions and operations.
- 7The company declared a quarterly dividend of $0.42 per share, an increase from $0.38 per share in the prior year's first quarter.