Q2 25 EPS
$0.28
BEAT +3.09%
Est. $0.27
Q2 25 Revenue
$4.04B
BEAT +7.85%
Est. $3.75B
vs S&P Since Q2 25
+5.4%
BEATING MARKET
KMI +20.1% vs S&P +14.7%
Market Reaction
Did KMI Beat Earnings? Q2 2025 Results
Kinder Morgan capped a strong second quarter with results that cleared Wall Street's bar on both the top and bottom lines, reinforcing the pipeline giant's position as a central artery in America's growing natural gas infrastructure. The company post… Read more Kinder Morgan capped a strong second quarter with results that cleared Wall Street's bar on both the top and bottom lines, reinforcing the pipeline giant's position as a central artery in America's growing natural gas infrastructure. The company posted adjusted EPS of $0.28, beating the $0.27 consensus by 3.09%, while revenue climbed 12.4% year-over-year to $4.04 billion, ahead of the $3.75 billion estimate by 7.85%. The standout driver was the Natural Gas Pipelines segment, where record Adjusted EBITDA of $1.97 billion, up 6% from a year ago, reflected higher contributions from the Texas Intrastate system and Tennessee Gas Pipeline, with LNG-driven transport volumes rising 3%. That momentum speaks to a broader theme playing out across the midstream sector, as surging LNG export demand continues to underpin long-haul pipeline capacity growth. With a project backlog now at $9.30 billion and management guiding for full-year net income of $2.80 billion, Kinder Morgan appears well-positioned heading into the second half.
Key Takeaways
- • Higher contributions from Texas Intrastate system and Tennessee Gas Pipeline
- • Natural gas transport volumes up 3% driven by LNG deliveries
- • Jones Act tanker fleet benefiting from higher rates and fully contracted term charter agreements
- • Liquids terminals expansion projects placed into service and higher rates at Houston Ship Channel facilities
- • Record Adjusted EBITDA of $1,972 million, up 6% year-over-year
KMI YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
“The company generated strong second quarter net income attributable to KMI and record Adjusted EBITDA, with increased financial contributions from our Natural Gas Pipelines and Terminals business segments versus the second quarter of 2024, very strong operational performance and project execution.”
— Kim Dang, Q2 2025 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% |