← 실적 발표
KMI FY2026 Q2 개선

Kinder Morgan, Inc. 실적 발표

Jul 22, 2026 · 12:30 ET David N. GoehringDax SandersKim Dang earningscall_biz
Buzzberg 분석

KMI raises full-year guidance again

Kinder Morgan reported a strong Q2 2026 with record adjusted EBITDA and EPS, raising full-year guidance. The call emphasized robust natural gas demand growth from LNG exports, power generation, and data centers, with a $10B+ opportunity set and multiple large expansion projects advancing. Management also provided updates on key joint ventures (Western Gateway) and competitive positioning for new pipeline projects. Q2 adjusted EBITDA +12% YoY, adjusted EPS +32% YoY to $0.37; all segments contributed.

Buzzberg 분석 KMI raises full-year guidance again Kinder Morgan reported a strong Q2 2026 with record adjusted EBITDA and EPS, raising full-year guidance. The call emphasized robust natural gas demand growth from LNG exports, power generation, and data centers, with a $10B+ opportunity set and multiple large expansion projects advancing. Management also provided updates on key joint ventures (Western Gateway) and competitive positioning for new pipeline projects. Q2 adjusted EBITDA +12% YoY, adjusted EPS +32% YoY to $0.37; all segments contributed. 전체 분석 보기분석 접기

Kinder Morgan reported a strong Q2 2026 with record adjusted EBITDA and EPS, raising full-year guidance. The call emphasized robust natural gas demand growth from LNG exports, power generation, and data centers, with a $10B+ opportunity set and multiple large expansion projects advancing. Management also provided updates on key joint ventures (Western Gateway) and competitive positioning for new pipeline projects. Q2 adjusted EBITDA +12% YoY, adjusted EPS +32% YoY to $0.37; all segments contributed.

  • Full-year guidance raised: adjusted EBITDA at least 5% above budget, adjusted EPS at least 12% above budget.
  • Sanctioned backlog $9.6B; $400M of projects board-approved pending contracts; expect to add at least $1B by year-end.
  • Natural gas transport volumes +7%, gathering +26%; Haynesville Kinderhawk volumes up 54%.
매출$4.477B-7% 전분기 대비
주당순이익(EPS)$0.37-23% 전분기 대비
매출총이익률68.62%보고값
영업이익률30.06%보고값
근거 있는 핵심 내용 6개

지금 중요한 점

이번 발표에서 가장 의미 있는 변화를 정리했습니다.

01
Guidance

KMI raises full-year guidance again

02
Capex

$3.4B incremental balance sheet capacity

03
Demand

Developing projects for 10 Bcf/d power demand

핵심 내용 3개 더 보기
04
Capex

Trident pipeline now 60% complete

05
Demand

Haynesville volumes up 54% on Kinderhawk

06
Capex

Expect to add significant projects by year end

보고 기간

보고 실적

지표보고값변화
매출$4.477B-7% 전분기 대비
주당순이익(EPS)$0.37-23% 전분기 대비
매출총이익률68.62%보고값
영업이익률30.06%보고값
잉여현금흐름$0.978B+42% 전분기 대비
자본지출$0.982B보고값
AI, 자본지출 및 수요 분석

경영진 분석

톤

confident

Management's tone was confident, driven by record Q2 results, a raised full-year guidance, and robust demand for natural gas infrastructure; there was a notably upbeat shift as they emphasized exceptional execution and a growing project pipeline.

자본지출

투자 및 생산능력

Management highlighted a strong growth capex pipeline with a $10 billion opportunity set and expects to add significant projects in the second half of 2026. They noted the ability to fund projects almost entirely with internal cash flow while maintaining low leverage at 3.6x, with $3.4 billion of additional balance sheet capacity before reaching the middle of their target range.

아래에 언급된 기업 5개 모두 표시

기업발표 이후 수익률

고객

SO -3.7%
고객

Southern Company's data center deal underscores rising Southeast gas demand, an opportunity for KMI's pipeline expansions.

근거
“Following Southern Company's recently announced agreement with OpenAI for a data center project in the S&M, highlighting the growing gas demand associated with AI infrastructure in general in that region.”
Kim Dang

경쟁사

BWP
경쟁사

KMI positions its Project 219 South as competitive with Boardwalk's Borealis, highlighting supply diversity and existing corridor advantage.

근거
“I'll talk about Tennessee and the benefits of Tennessee. I mean, ultimately, I'm not going to talk about Borealis, but...”
Sital Patel

공급망

OPENAI
공급망

OpenAI's data center project with Southern Company signals AI-driven power demand growth, indirectly supporting midstream natural gas needs.

근거
“Following Southern Company's recently announced agreement with OpenAI for a data center project in the S&M, highlighting the growing gas demand...”
Kim Dang
WMB -2.9% ET -0.3%
공급망

KMI's GCX expansion in the Permian filled up immediately upon startup, indicating tight egress capacity and sustained demand for Permian takeaway. — Tight Permian egress benefits all midstream operators with exposure to the basin; any new capacity is quickly absorbed, supporting pricing power for competitors.

근거
“As soon as we got it up, it pretty much was full. And that's been the case on all of our PAR projects out of the Permian.”
Sital Patel
외부 신호

공급망 알파 · 1발표 이후 수익률

A1

KMI's GCX expansion in the Permian filled up immediately upon startup, indicating tight egress capacity and sustained demand for Permian takeaway.

Sital Patel
WMB-2.9%ET-0.3%
방법론 및 범위

경영진 발언만 분석합니다. 검증된 기업 언급 5개를 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.