Guidance
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KMI
FY2026 Q2
Улучшается
Отчётный звонок Kinder Morgan, Inc.
Вывод Buzzberg
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.
Вывод Buzzberg 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. Читать полный анализСвернуть анализ
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%.
Выручка$4.477B-7% к/к
EPS$0.37-23% к/к
Валовая маржа68.62%Факт
Операционная маржа30.06%Факт
6 подтверждённых тезисов
Что важно сейчас
Самые значимые изменения по итогам звонка.
Capex
$3.4B incremental balance sheet capacity
Demand
Developing projects for 10 Bcf/d power demand
Показать ещё 3 тезиса
Capex
Trident pipeline now 60% complete
Demand
Haynesville volumes up 54% on Kinderhawk
Capex
Expect to add significant projects by year end
Отчётный период
Фактические результаты
| Показатель | Факт | Изменение |
|---|---|---|
| Выручка | $4.477B | -7% к/к |
| EPS | $0.37 | -23% к/к |
| Валовая маржа | 68.62% | Факт |
| Операционная маржа | 30.06% | Факт |
| Свободный денежный поток | $0.978B | +42% к/к |
| Капзатраты | $0.982B | Факт |
AI, капзатраты и спрос
Оценка менеджмента
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.
Инвестиции и мощности
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.
все упомянутые компании ниже: 5
Компаниис момента звонка
Клиенты
Клиенты
Kim Dang
Southern Company's data center deal underscores rising Southeast gas demand, an opportunity for KMI's pipeline expansions.
Доказательства
“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.”
Конкуренты
Конкуренты
Sital Patel
KMI positions its Project 219 South as competitive with Boardwalk's Borealis, highlighting supply diversity and existing corridor advantage.
Доказательства
“I'll talk about Tennessee and the benefits of Tennessee. I mean, ultimately, I'm not going to talk about Borealis, but...”
Цепочка поставок
OPENAI
Цепочка поставок
Kim Dang
OpenAI's data center project with Southern Company signals AI-driven power demand growth, indirectly supporting midstream natural gas needs.
Доказательства
“Following Southern Company's recently announced agreement with OpenAI for a data center project in the S&M, highlighting the growing gas demand...”
Цепочка поставок
Sital Patel
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.
Доказательства
“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.”
Внешние сигналы
Альфа цепочки поставок · 1с момента звонка
KMI's GCX expansion in the Permian filled up immediately upon startup, indicating tight egress capacity and sustained demand for Permian takeaway.
Методология и полнота
Анализ основан только на заявлениях менеджмента. Показаны все подтверждённые упоминания компаний: 5. Фактические результаты и прогнозы разделены. Публичные доказательства ограничены восемью короткими атрибутированными цитатами. AI-анализ может быть неполным или ошибочным — проверяйте важные утверждения по первоисточнику.