Q4 24 EPS
$0.32
MISS 3.03%
Est. $0.33
Q4 24 Revenue
$3.99B
vs S&P Since Q4 24
-7.6%
TRAILING MARKET
KMI +10.6% vs S&P +18.2%
Full Year 2024 Results
FY 24 EPS
$1.15
MISS 2.16%
Est. $1.18
FY 24 Revenue
$15.10B
MISS 2.46%
Est. $15.48B
Market Reaction
Did KMI Beat Earnings? Q4 2024 Results
Kinder Morgan closed out 2024 on a mixed note, falling just short of Wall Street's targets while delivering meaningful underlying growth. The pipeline giant posted adjusted EPS of $0.32 for Q4, a cent below the $0.33 consensus estimate, while revenue… Read more Kinder Morgan closed out 2024 on a mixed note, falling just short of Wall Street's targets while delivering meaningful underlying growth. The pipeline giant posted adjusted EPS of $0.32 for Q4, a cent below the $0.33 consensus estimate, while revenue of $3.99 billion trailed the $4.38 billion forecast by 8.87%, though it still edged up 0.5% year-over-year. The headline driver was broad-based strength across Natural Gas Pipelines, Products Pipelines, and Terminals, with Adjusted EBITDA climbing 7% to $2.06 billion and net income rising 12% to $667 million. The bigger story, however, is what's ahead: KMI's project backlog surged nearly 60% quarter-over-quarter to $8.1 billion, anchored by roughly $5 billion in large-scale natural gas infrastructure commitments. Investors tracking Kinder Morgan's ongoing results will note 2025 guidance calling for Adjusted EPS of $1.27, up 10%, and Adjusted EBITDA of $8.3 billion, as surging demand from LNG, power generation, and AI data centers underpins the company's ambitious buildout.
Key Takeaways
- • Higher contributions from Texas Intrastate natural gas system
- • Additional contributions from STX Midstream acquisition
- • Higher contributions from TGP expansion projects
- • Higher rates in Products Pipelines segment
- • Jones Act tanker fleet benefiting from higher rates and full contract coverage
- • Increased petroleum coke handling in bulk terminals
- • Liquids terminal expansion projects placed into service
KMI YoY Financials
Q4 2024 vs Q4 2023, source: SEC Filings
“KMI had a very strong fourth quarter on increased financial contributions from our Natural Gas Pipelines, Products Pipelines and Terminals business segments, with Adjusted EBITDA up 7% versus the fourth quarter of 2023. Our balance sheet remains healthy, as we ended the year with a Net Debt-to-Adjusted EBITDA ratio of 4.0 times.”
— Kim Dang, Q4 2024 Earnings Press Release
KMI Earnings Trends
KMI vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
KMI EPS Trend
Earnings per share: estimate vs actual
KMI Revenue Trend
Quarterly revenue: estimate vs actual
KMI Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | — | — | — | — |
| Q4 25 BEAT FY | $0.37 | $0.39 | +5.41% | $4.51B | — |
| FY Full Year | $1.28 | $1.30 | +1.44% | $16.94B | +0.45% |
| Q3 25 MISS | $0.30 | $0.28 | -6.20% | $4.15B | +4.67% |
| Q2 25 BEAT | $0.27 | $0.28 | +3.09% | $4.04B | +7.85% |
| Q4 24 MISS FY | $0.33 | $0.32 | -3.03% | $3.99B | — |
| FY Full Year | $1.18 | $1.15 | -2.16% | $15.10B | -2.46% |