Summary
Kinder Morgan, Inc. (KMI) reported a significant increase in net income attributable to common stockholders for the six months ended June 30, 2019, reaching $1,074 million, a substantial improvement from the $383 million reported in the same period of 2018. This positive trend was driven by strong performance across its Natural Gas Pipelines segment, which saw a 59% increase in Segment EBDA before certain items. The company also benefited from lower interest expenses and a reduction in general and administrative costs. While overall revenues slightly decreased year-over-year, the improved profitability reflects effective cost management and operational efficiencies. The company's liquidity remains robust, supported by strong operating cash flows and available borrowing capacity. KMI also reiterated its commitment to returning capital to shareholders, declaring a quarterly dividend of $0.25 per common share.
Financial Highlights
52 data points| Revenue | $3.21B |
| Cost of Revenue | $777.00M |
| Gross Profit | $2.44B |
| Operating Expenses | $2.24B |
| Operating Income | $973.00M |
| Net Income | $518.00M |
| EPS (Basic) | $0.23 |
| Shares Outstanding (Basic) | 2.26B |
Key Highlights
- 1Net income attributable to common stockholders surged to $1,074 million for the six months ended June 30, 2019, up from $383 million in the prior year period.
- 2Natural Gas Pipelines segment demonstrated strong growth, with Segment EBDA before certain items increasing by 10% year-over-year for the six months ended June 30, 2019.
- 3Total revenues for the six months ended June 30, 2019, were $6,643 million, a slight decrease from $6,846 million in the prior year period.
- 4Consolidated operating expenses decreased by approximately $900 million for the six months ended June 30, 2019, compared to the prior year, primarily due to a significant reduction in costs related to impairments and divestitures.
- 5Interest expense, net, decreased by $71 million for the six months ended June 30, 2019, compared to the prior year, reflecting lower average debt balances.
- 6Kinder Morgan declared a quarterly cash dividend of $0.25 per common share for the period ended June 30, 2019, payable in August 2019.
- 7The company maintained sufficient liquidity with $213 million in cash and cash equivalents and significant borrowing capacity available under its credit facilities as of June 30, 2019.