What were the main drivers of Kinder Morgan's revenue growth in the first half of 2014?

Kinder Morgan's revenue growth in the first half of 2014 was primarily driven by strong performance in its Natural Gas Pipelines segment, which benefited from higher transportation and storage services due to new projects and increased volumes. The Products Pipelines and Terminals segments also contributed positively due to higher throughput volumes, expanded capacity, and increased customer agreements.

How did Kinder Morgan's debt situation evolve during this period?

Kinder Morgan's total consolidated long-term debt increased slightly to $34.5 billion as of June 30, 2014, from $33.9 billion at the end of 2013. The company refinanced some of its debt, replacing secured credit facilities with unsecured ones and issuing new long-term debt. While overall debt levels are substantial, the company's management indicated it was in compliance with financial covenants and had adequate liquidity.

What is Kinder Morgan's outlook on dividend payments?

Kinder Morgan has a policy of distributing a substantial portion of its cash to shareholders. The company declared dividends of $0.43 per share for the second quarter of 2014, and expects to declare at least $1.72 per share for the full year 2014, representing an 8% increase over 2013. Dividend payments are primarily dependent on distributions received from KMP and EPB.

Are there any significant legal or environmental issues that investors should be aware of?

Kinder Morgan and its subsidiaries are involved in various ongoing legal and regulatory proceedings, including FERC and CPUC proceedings related to pipeline rates, environmental cleanup obligations, and other litigations. While the company has established reserves for these matters and management believes they will not have a material adverse impact, these contingent liabilities represent potential risks that investors should monitor.

KMI/EP-PC 10-Q Quarterly Report Q2 FY2014

Summary

Kinder Morgan, Inc. (KMI) reported solid financial results for the six months ended June 30, 2014, demonstrating revenue growth driven by its Natural Gas Pipelines, Products Pipelines, and Terminals segments. Net income attributable to Kinder Morgan, Inc. was $571 million for the first six months of 2014, a slight increase from $569 million in the prior year period. The company's financial health remains robust with total assets reaching $76.4 billion. Significant investments in capital expenditures, totaling $1.7 billion for the six-month period, underscore KMI's commitment to expanding and maintaining its extensive pipeline and terminal infrastructure. The company also maintained its dividend payments, declaring $0.85 per share for the six-month period, reflecting a commitment to returning value to shareholders. While the company faces ongoing regulatory proceedings and potential litigation, management has expressed confidence in its ability to manage these risks without material adverse impact. The financial position is supported by substantial liquidity, with significant availability under its credit facilities.

Financial Highlights

49 data points

Beta

Revenue

$3.94B

0.6% Gross Margin

Net Income

$284.00M

0.1% Net Margin

EPS (Diluted)

$0.27

Total Assets

$76.36B

Cash & Equivalents

$363.00M

Free Cash Flow

$213.00M

Financial Statements

Beta

Revenue	$3.94B
Cost of Revenue	$1.61B
Gross Profit	$2.33B
Operating Expenses	$2.92B
Operating Income	$1.01B
Net Income	$284.00M
EPS (Diluted)	$0.27
Shares Outstanding (Diluted)	1.03B

Key Highlights

1Total revenues increased to $7.98 billion for the six months ended June 30, 2014, up from $6.44 billion in the prior year period, driven by growth across key segments.
2Net income attributable to Kinder Morgan, Inc. was $571 million for the six months ended June 30, 2014, slightly up from $569 million in the same period of 2013.
3Capital expenditures totaled $1.72 billion for the first six months of 2014, reflecting ongoing investment in infrastructure growth and maintenance.
4The company declared dividends totaling $0.85 per common share for the first six months of 2014, an increase from $0.78 in the prior year period.
5Total assets grew to $76.4 billion as of June 30, 2014, compared to $75.2 billion at the end of 2013.
6Kinder Morgan's Natural Gas Pipelines segment saw significant revenue growth, up to $5.02 billion for the first six months of 2014, driven by higher transport volumes and new projects.
7The company maintained substantial liquidity, with $872 million available under KMI's unsecured revolving credit facility as of June 30, 2014.

KINDER MORGAN, INC. Quarterly Report for Q2 Ended Jun 30, 2014

Summary

Financial Highlights

Key Highlights

Frequently Asked Questions