Kinder Morgan sees FY26 adjusted EPS $1.36, consensus $1.38

For 2026, KMI budgeted net income attributable to KMI of $3.1 billion, flat to the previous year. KMI’s 2026 budgeted adjusted net income attributable to KMI, which excludes Certain Items, is 5% higher than 2025, and Adjusted EPS is $1.36, also up 5% from 2025. KMI expects to declare dividends of $1.19 per share for 2026, a 2% increase from the dividends declared for 2025. The company also budgeted 2026 Adjusted EBITDA of $8.6 billion, up 2% versus 2025, and to end 2026 with a Net Debt-to-Adjusted EBITDA ratio of 3.8 times. While it is still early in the year, KMI is trending more than 3% favorable to budget on an Adjusted EBITDA basis due to outperformance during the sustained colder-than-normal weather in the first quarter.