Q4 22 EPS
$0.31
BEAT +3.33%
Est. $0.30
Q4 22 Revenue
$4.58B
MISS 6.79%
Est. $4.91B
Full Year 2022 Results
FY 22 EPS
$1.16
FY 22 Revenue
$19.20B
Did KMI Beat Earnings? Q4 2022 Results
Kinder Morgan closed out the fourth quarter of 2022 on solid footing, posting earnings per share of $0.31 on revenue of $4.58 billion as robust performance across its Natural Gas Pipelines segment drove broad-based gains. That segment, the company's … Read more Kinder Morgan closed out the fourth quarter of 2022 on solid footing, posting earnings per share of $0.31 on revenue of $4.58 billion as robust performance across its Natural Gas Pipelines segment drove broad-based gains. That segment, the company's largest, delivered adjusted EBDA of $1.35 billion, up 11% year over year, fueled by stronger contributions from the Texas Intrastate system and higher gathering volumes, helping lift consolidated adjusted EBITDA to $1.96 billion for the quarter, an 8% increase. Adjusted earnings rose 16% to $708 million, while distributable cash flow climbed to $1.22 billion from $1.09 billion a year ago. The company also ended 2022 with a net debt-to-adjusted EBITDA ratio of 4.1x, comfortably below its 4.5x long-term target. Looking ahead, management guided for 2023 adjusted EBITDA of $7.7 billion and DCF of $4.8 billion, with a planned dividend of $1.13 per share, as LNG-related pipeline demand and lower-carbon energy services, representing roughly 80% of the project backlog, anchor the company's near-term growth strategy.
Key Takeaways
- • Natural Gas Pipelines segment outperformed plan on higher Texas Intrastate, Midcontinent Express, and EPNG contributions
- • CO2 segment benefited from higher realized crude, NGL, and CO2 prices
- • Natural gas transport volumes up 4% and gathering volumes up 6% versus Q4 2021
- • Jones Act tanker business contributions meaningfully higher due to improved utilization and higher charter rates
- • Jet fuel volumes up 10% versus Q4 2021
- • KinderHawk gathering volumes increased serving the Haynesville shale
KMI YoY Financials
Q4 2022 vs Q4 2021, source: SEC Filings
KMI Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our people, assets and systems performed very well this quarter, especially given the volatile weather and pricing we experienced late in the quarter. Our Natural Gas Pipelines segment performed well above plan for the quarter, as did our CO2 segment, which benefited from continued high commodity prices.”
— Steve Kean, Q4 2022 Earnings Press Release
KMI Earnings Trends
KMI vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
KMI EPS Trend
Earnings per share: estimate vs actual
KMI Revenue Trend
Quarterly revenue: estimate vs actual
KMI Quarterly Results
12 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.39 | $0.48 | +22.11% | $4.83B | +6.19% |
| Q4 25 BEAT FY | $0.37 | $0.39 | +6.82% | $4.51B | +4.15% |
| FY Full Year | $1.28 | $1.30 | +1.44% | $16.94B | +0.45% |
| Q3 25 MISS | $0.30 | $0.29 | -2.85% | $4.15B | +4.67% |
| Q2 25 BEAT | $0.27 | $0.28 | +3.09% | $4.04B | +7.85% |
| Q1 25 MISS | $0.36 | $0.34 | -4.84% | $4.24B | +5.34% |
| Q4 24 MISS FY | $0.33 | $0.32 | -2.71% | $3.99B | -3.59% |
| FY Full Year | $1.18 | $1.15 | -2.16% | $15.10B | -2.46% |
| Q3 24 MISS | $0.27 | $0.25 | -7.41% | $3.70B | -6.94% |
| Q4 23 MISS FY | $0.30 | $0.27 | -10.00% | $4.04B | -8.41% |
| FY Full Year | — | $1.06 | — | $15.33B | — |
| Q3 23 MISS | $0.26 | $0.24 | -7.69% | $3.91B | -17.12% |
| Q2 23 BEAT | $0.24 | $0.26 | +8.33% | $3.50B | -23.13% |
| Q1 23 BEAT | $0.29 | $0.30 | +3.45% | $3.89B | -18.46% |
| Q4 22 BEAT FY | $0.30 | $0.31 | +3.33% | $4.58B | -6.79% |
| FY Full Year | — | $1.16 | — | $19.20B | — |