Guidance
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KMI
FY2026 Q1
Улучшается
Отчётный звонок Kinder Morgan, Inc.
Вывод Buzzberg
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.
Вывод Buzzberg 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. Читать полный анализСвернуть анализ
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.
Выручка$4.828B+7% к/к
EPS$0.48+23% к/к
Валовая маржа49.05%Факт
Операционная маржа29.91%Факт
6 подтверждённых тезисов
Что важно сейчас
Самые значимые изменения по итогам звонка.
Capex
Backlog grew to $10.1 billion with three data center deals
Demand
Gas demand projected to reach 150 Bcf/d by 2031
Показать ещё 3 тезиса
M&A
Acquiring Monument Pipeline for ~$500 million
Projects
Western Gateway open season successful, FID expected within months
Balance Sheet
Leverage at 3.6x, lowest since pre-2014 consolidation
Отчётный период
Фактические результаты
| Показатель | Факт | Изменение |
|---|---|---|
| Выручка | $4.828B | +7% к/к |
| EPS | $0.48 | +23% к/к |
| Валовая маржа | 49.05% | Факт |
| Операционная маржа | 29.91% | Факт |
| Свободный денежный поток | $0.687B | -57% к/к |
| Капзатраты | $0.804B | Факт |
AI, капзатраты и спрос
Оценка менеджмента
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.
Инвестиции и мощности
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.
все упомянутые компании ниже: 2
Компаниис момента звонка
Клиенты
CLR
Клиенты
Kim
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.
Доказательства
“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.”
Партнёры
Партнёры
Dax
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.
Доказательства
“KMI and Phillips 66 recently concluded a successful open season on the proposed Western Gateway pipeline system.”
Внешние сигналы
Альфа цепочки поставок · 2с момента звонка
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 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.
Доказательства
“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%.”
Методология и полнота
Анализ основан только на заявлениях менеджмента. Показаны все подтверждённые упоминания компаний: 2. Фактические результаты и прогнозы разделены. Публичные доказательства ограничены восемью короткими атрибутированными цитатами. AI-анализ может быть неполным или ошибочным — проверяйте важные утверждения по первоисточнику.