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KMI FY2026 Q1 개선

Kinder Morgan, Inc. 실적 발표

Apr 22, 2026 · 12:30 ET David DehaemersDaxKim earningscall_biz
Buzzberg 분석

Full-year EBITDA expected to exceed budget by more than 3%

KMI reported a strong Q1 with EPS up 38% and raised full-year EBITDA guidance by >$250M. Management highlighted robust natural gas demand driven by LNG and data center power, pipeline utilization above 90%, and a $10.1B project backlog. Cross-company signals include a joint venture with Phillips 66 on Western Gateway and reduced drilling by Continental Resources in the Bakken. Adjusted EPS +41% YoY; EBITDA +18%; every segment beat budget.

Buzzberg 분석 Full-year EBITDA expected to exceed budget by more than 3% KMI reported a strong Q1 with EPS up 38% and raised full-year EBITDA guidance by >$250M. Management highlighted robust natural gas demand driven by LNG and data center power, pipeline utilization above 90%, and a $10.1B project backlog. Cross-company signals include a joint venture with Phillips 66 on Western Gateway and reduced drilling by Continental Resources in the Bakken. Adjusted EPS +41% YoY; EBITDA +18%; every segment beat budget. 전체 분석 보기분석 접기

KMI reported a strong Q1 with EPS up 38% and raised full-year EBITDA guidance by >$250M. Management highlighted robust natural gas demand driven by LNG and data center power, pipeline utilization above 90%, and a $10.1B project backlog. Cross-company signals include a joint venture with Phillips 66 on Western Gateway and reduced drilling by Continental Resources in the Bakken. Adjusted EPS +41% YoY; EBITDA +18%; every segment beat budget.

  • Full-year EBITDA guidance raised to >3% above budget (>$250M incremental).
  • Acquired Monument Pipeline (TX) for $500M, expected to close end of month.
  • Project backlog increased to $10.1B, including three data center deals.
매출$4.828B+7% 전분기 대비
주당순이익(EPS)$0.48+23% 전분기 대비
매출총이익률49.05%보고값
영업이익률29.91%보고값
근거 있는 핵심 내용 6개

지금 중요한 점

이번 발표에서 가장 의미 있는 변화를 정리했습니다.

01
Guidance

Full-year EBITDA expected to exceed budget by more than 3%

02
Capex

Backlog grew to $10.1 billion with three data center deals

03
Demand

Gas demand projected to reach 150 Bcf/d by 2031

핵심 내용 3개 더 보기
04
M&A

Acquiring Monument Pipeline for ~$500 million

05
Projects

Western Gateway open season successful, FID expected within months

06
Balance Sheet

Leverage at 3.6x, lowest since pre-2014 consolidation

보고 기간

보고 실적

지표보고값변화
매출$4.828B+7% 전분기 대비
주당순이익(EPS)$0.48+23% 전분기 대비
매출총이익률49.05%보고값
영업이익률29.91%보고값
잉여현금흐름$0.687B-57% 전분기 대비
자본지출$0.804B보고값
AI, 자본지출 및 수요 분석

경영진 분석

톤

Confident

Management expressed strong confidence in the natural gas growth story, highlighted outstanding quarterly results, and pointed to a large expansion opportunity set and successful project progress.

자본지출

투자 및 생산능력

Management raised the project backlog to $10.1 billion, up $145 million quarter-over-quarter, with expansions focused on natural gas pipelines, LNG feed gas, and power demand, including data centers. They expect to finance these projects primarily with internally generated cash flow while maintaining a strong balance sheet.

아래에 언급된 기업 2개 모두 표시

기업발표 이후 수익률

고객

CLR
고객

Continental Resources dropped rigs in the Bakken, potentially reducing KMI's crude gathering volumes. Despite higher oil prices, producers have not yet increased drilling, signaling a near-term headwind for Bakken volumes. — KMI's crude gathering segment is sensitive to producer activity in the Bakken; a drop in rigs suggests slower production growth, which could dampen KMI's volume outlook despite favorable commodity prices.

근거
“Continental dropped rigs earlier this year, but prices are better, and so hopefully at some point some of our producers may increase rigs, but we have not seen that to date.”
Kim

파트너

PSX +27.7%
파트너

KMI and Phillips 66 are jointly developing the Western Gateway pipeline, which would transport refined products from Texas to Arizona and California. The project is progressing to the next stage of finalizing agreements.

근거
“KMI and Phillips 66 recently concluded a successful open season on the proposed Western Gateway pipeline system.”
Dax
외부 신호

공급망 알파 · 2발표 이후 수익률

A1

Continental Resources dropped rigs in the Bakken, potentially reducing KMI's crude gathering volumes. Despite higher oil prices, producers have not yet increased drilling, signaling a near-term headwind for Bakken volumes.

Kim
CLRKMI-2.6%
A2

KMI's five largest gas pipelines are operating at over 90% utilization, indicating tight capacity across the network. This supports the need for new pipeline expansions and strengthens KMI's pricing power on incremental capacity sales.

Kim
KMI-2.6%
근거
“The growth in the overall natural gas market of over 36 BCF since 2016 has driven utilization on our five largest gas pipelines to over 90%.”
방법론 및 범위

경영진 발언만 분석합니다. 검증된 기업 언급 2개를 모두 표시하며, 보고 실적과 향후 가이던스를 분리합니다. 공개 근거는 화자가 표시된 짧은 인용문 8개로 제한됩니다. AI 분석은 불완전하거나 틀릴 수 있으므로 중요한 주장은 원문에서 확인하세요.