The earnings call reflected a strong performance in 2024 with significant project announcements and financial growth. However, there were challenges in gathering volumes and impacts from commodity prices. The overall sentiment is positive due to the strong expansion plans and financial improvements.

Company Guidance

During the KMI Q4 2024 earnings call, the company provided guidance on several key metrics and projects, reflecting a strong growth trajectory. Richard Kinder highlighted the announcement of four new major projects, including the GCX system expansion, SSI expansion, Mississippi crossing line, and Triton line, which collectively entail capital expenditures exceeding $5 billion and will transport over 5 Bcf of natural gas per day. Kimberly Dang reported a successful year with $6.3 billion in new expansion projects, increasing the backlog from $3 billion to $8.1 billion, and projected an annual expansion CapEx of $2.5 billion for the coming years. The company also secured contracts to upsize the MSX project to 1.8 Bcf/day and announced the $1.7 billion Trident project. Financially, KMI declared a dividend of $0.2875 per share, with net income up 12% from the previous year, and forecasted 2025 to deliver an 8% growth in net income, 4% EBITDA growth, and a 10% increase in adjusted EPS.

Record Project Announcements

KMI announced the FID of four major projects including the GCX system expansion, SSI expansion, Mississippi crossing line, and the Triton line, entailing capital expenditures over $5 billion with a capacity to transport over 5 Bcf a day.

Strong Financial Performance in 2024

KMI grew EBITDA and EPS, improved leverage metrics, and secured commercial contracts underpinning $6.3 billion in new expansion projects.

Increased Expansion CapEx

KMI expects to spend approximately $2.5 billion per year in expansion CapEx for the next several years, up from the previous estimate of $2 billion.

Dividend Growth

KMI declared a dividend of $0.2875 per share, up 2% from 2023.

Future Growth Opportunities

KMI's internal number for growth in the natural gas business is roughly 28 Bcf a day between now and 2030, supported by their well-positioned assets.

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Kinder Morgan (KMI) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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KMI Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 16, 2025	2025 (Q1)	0.35 / -	0.34	―	―	―
Jan 22, 2025	2024 (Q4)	0.34 / 0.32	0.28	14.29% (+0.04)	―
Oct 16, 2024	2024 (Q3)	0.27 / 0.25	0.25	0.00% (0.00)	―
Jul 17, 2024	2024 (Q2)	0.26 / 0.25	0.24	4.17% (+0.01)	―
Apr 17, 2024	2024 (Q1)	0.34 / 0.34	0.3	13.33% (+0.04)	―
Jan 17, 2024	2023 (Q4)	0.30 / 0.28	0.31	-9.68% (-0.03)	―
Oct 18, 2023	2023 (Q3)	0.26 / 0.25	0.25	0.00% (0.00)	―
Jul 19, 2023	2023 (Q2)	0.24 / 0.24	0.27	-11.11% (-0.03)	―
Apr 19, 2023	2023 (Q1)	0.29 / 0.30	0.32	-6.25% (-0.02)
Jan 18, 2023	2022 (Q4)	0.30 / 0.31	0.27	14.81% (+0.04)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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KMI Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jan 22, 2025	$30.46	$30.16	-0.98%
Oct 16, 2024	$24.38	$24.28	-0.41%
Jul 17, 2024	$19.81	$20.32	+2.57%
Apr 17, 2024	$16.88	$17.30	+2.49%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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