Strong Earnings Growth
EBITDA grew by 6% and adjusted EPS increased by 16% year-over-year, driven by strong performance in the natural gas segment and the Outrigger acquisition.
Natural Gas Segment Outperformance
The natural gas segment, accounting for two-thirds of the business, exceeded budget expectations, excluding the Outrigger acquisition. Transport volumes were up 6%, and gathering volumes increased by 9% compared to the third quarter of 2024.
Robust Project Pipeline
Kinder Morgan is actively pursuing over $10 billion in potential projects, primarily in natural gas, with a current backlog of $9.3 billion.
Dividend Increase
Declared a quarterly dividend of $0.2925 per share, representing a 2% increase over the 2024 dividend.
Improved Balance Sheet and Credit Ratings
Net debt to adjusted EBITDA ratio improved to 3.9x. Fitch upgraded the senior unsecured rating to BBB+, with positive outlooks from S&P and Moody's.
Federal Regulatory Support
Benefiting from a more supportive federal regulatory process for project approval, aiding in expansion efforts.