Kinder Morgan, Inc. has recently released its 10-Q report, providing a detailed insight into its operations and financial performance. The company operates as an energy infrastructure company primarily in North America, with segments including Natural Gas Pipelines, Products Pipelines, Terminals, and CO2. Kinder Morgan owns and operates approximately 82,000 miles of pipelines and 139 terminals, and it was founded in 1997, with its headquarters in Houston, Texas.
In the 10-Q report, Kinder Morgan highlighted several key developments, including acquisitions and divestitures during the 2024 period. The company acquired AVAD Energy Partners' interest in the North McElroy Unit for $60 million and sold its interests in various assets, including CO2 assets divestiture for $19 million and Oklahoma assets divestiture for $43 million. Additionally, Kinder Morgan expects to declare dividends of $1.15 per share for 2024, representing a 2% increase from the 2023 declared dividends of $1.13 per share. The company also plans to invest $1.98 billion in expansion projects, acquisitions, and contributions to joint ventures during 2024.
The 10-Q report also delved into the company's financial performance, emphasizing that management evaluates performance primarily using Net income attributable to Kinder Morgan, Inc. and Segment earnings before DD&A expenses, including amortization of excess cost of equity investments (EBDA). The report discussed GAAP financial measures, including Consolidated Earnings Results for the three and nine months ended September 30, 2024, and 2023, presenting Net income attributable to Kinder Morgan, Inc., and Segment EBDA.
Moreover, the report outlined non-GAAP financial measures, such as Adjusted Net Income Attributable to Kinder Morgan, Inc., Adjusted Net Income Attributable to Common Stock, and distributable cash flow (DCF). Kinder Morgan also provided insights into Adjusted Segment EBDA and Adjusted EBITDA, offering a comprehensive analysis of its financial performance and ability to generate earnings core to its ongoing operations.
The 10-Q report offers a detailed and transparent overview of Kinder Morgan's business operations, financial condition, and results of operations, providing investors and stakeholders with valuable insights into the company's performance and strategic initiatives. Today the company's shares have moved 0.5% to a price of $24.95. Check out the company's full 10-Q submission here.
