Kinetik (KNTK)
NYSE:KNTK
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Earnings Data
Report Date
May 06, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.21Last Year’s EPS
0.05Same Quarter Last Year
Moderate Buy
Based on 13 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call balanced clear operational and strategic progress (Kings Landing reliability, FIDs for sour conversion and behind-the-meter power, bolt-on acquisition, contract restructurings, deleveraging and share repurchases, and guidance for mid-single-digit to >7% pro forma EBITDA growth) against persistent market headwinds (Waha price volatility and material curtailments, a negative free cash flow quarter, and the near-term earnings impact from the EPIC Crude divestiture and PHP distribution timing). Management presented a credible plan to mitigate risks—hedging, Gulf Coast transport utilization, contract amendments, disciplined capital allocation—and reiterated targets for leverage and shareholder returns. Overall, operational execution and strategic actions give constructive momentum, but meaningful execution and commodity/takeaway developments are required to fully realize the upside.Company Guidance
Quarterly and Full-Year Adjusted EBITDA
Reported Q4 adjusted EBITDA of $252 million and full-year 2025 adjusted EBITDA of $988 million (slightly above the midpoint of revised guidance). 2026 adjusted EBITDA guidance of $950 million to $1.05 billion (midpoint $1.0 billion) implies >7% year-over-year growth on a pro forma basis excluding the EPIC Crude sale.
Midstream Logistics Performance
Midstream Logistics delivered $173 million of adjusted EBITDA in Q4, up 15% year-over-year, driven by gas volume growth, Gulf Coast marketing gains and a one-time operating expense benefit.
Operational Success at Kings Landing
Kings Landing achieved full commercial in-service, doubled processing capacity in Delaware North and reported a 99.8% run time with strong ethane recoveries; Kings Landing reliability helped during Winter Storm Fern and supports ramp to higher inlet volumes.
Strategic Project FIDs and Asset Additions
Reached FID on Kings Landing sour gas conversion (expected in service by year-end 2026) which will increase permitted acid gas injection capacity across Delaware North to over 31 MMcf/d. Also reached FID on a 40 MW behind-the-meter gas turbine at Diamond Cryo (<$25 million capex, in service late 2026) and closed the bolt-on acquisition of the Barilla Draw gathering assets.
Pipeline and Connectivity Progress
ECCC pipeline completion remains on schedule for in-service next quarter, unlocking connectivity between Eddy and Culberson counties and providing Delaware North access to Delaware South processing capacity.
Commercial Contract Wins and Amendments
Amended gas gathering & processing agreements with two large legacy Durango Midstream customers, extending terms into the mid-2030s, shifting economics toward fixed fees/treated fees and increasing expected EBITDA beginning in 2026. Executed long-term agreements with CPV and INEOS and progressing a new Lea County agreement.
Balance Sheet Actions and Capital Discipline
Proceeds (~$500 million) from EPIC Crude divestiture used to pay down revolver borrowings, improving liquidity. Repurchased $176 million of Class A common stock during the year and exited 2025 at ~3.8x leverage; new target leverage range set at 3.5x–4x.
2026 Capital Allocation and Guidance
2026 CapEx guidance of $450 million to $510 million (approximately 70% in New Mexico). Management set a growth-oriented capital allocation framework: modest annual dividend increases of 3%–5% until 1.6x coverage, opportunistic buybacks, and preservation of balance sheet flexibility.
Volume Growth by Region
Company expects high single-digit system-processed gas volume growth in 2026. Reported Delaware North volumes up ~35% year-over-year (driven by Kings Landing) and Delaware South growth of 3% in 2025, which normalizes to ~10% when adjusted for curtailments.
Hedging and Marketing Offsets
Approximately 40% of transport spread exposure hedged to mitigate downside from Waha-Gulf Coast price differential; management highlighted Gulf Coast transport utilization and marketing gains as offsets to Waha-related production shut-ins.
KNTK Earnings History
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
KNTK Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 25, 2026 | $43.51 | $47.00 | +8.02% |
Nov 05, 2025 | $36.59 | $33.61 | -8.14% |
Aug 06, 2025 | $39.93 | $39.92 | -0.03% |
May 07, 2025 | $38.07 | $39.99 | +5.03% |
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.
FAQ
When does Kinetik (KNTK) report earnings?
Kinetik (KNTK) is schdueled to report earning on May 06, 2026, After Close (Confirmed).
What is Kinetik (KNTK) earnings time?
Kinetik (KNTK) earnings time is at May 06, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is KNTK EPS forecast?
KNTK EPS forecast for the fiscal quarter 2026 (Q1) is 0.21.