Q2 25 EPS
$0.33
MISS 11.67%
Est. $0.37
Q2 25 Revenue
$426.7M
BEAT +8.18%
Est. $394.5M
vs S&P Since Q2 25
+1.9%
BEATING MARKET
KNTK +20.8% vs S&P +18.9%
Market Reaction
Did KNTK Beat Earnings? Q2 2025 Results
Kinetik Holdings delivered a mixed second quarter for 2025, beating on the top line while falling short on the bottom, as a net income decline overshadowed strong volume growth and left investors weighing a nuanced picture. Revenue came in at $426.74… Read more Kinetik Holdings delivered a mixed second quarter for 2025, beating on the top line while falling short on the bottom, as a net income decline overshadowed strong volume growth and left investors weighing a nuanced picture. Revenue came in at $426.74 million, clearing the $394.46 million consensus estimate by 8.18% and marking an 18.7% increase year-over-year, yet earnings per share of $0.33 missed the $0.37 consensus by 11.67%, pressured by lower commodity pricing and sharply higher operating costs that climbed to $68.05 million from $44.07 million a year prior. The single most consequential development of the quarter was the commencement of commissioning at the Kings Landing Complex, with full commercial in-service targeted for late September 2025, a milestone management described as providing long-overdue relief for producers with curtailed volumes on the Delaware North system. Looking ahead, Kinetik updated its full-year 2025 Adjusted EBITDA guidance to a range of $1.03 billion to $1.09 billion, acknowledging producer development delays and commodity headwinds, though management continues to expect Q4 annualized Adjusted EBITDA of approximately $1.20 billion as the earnings trajectory tilts heavily toward the second half.
Key Takeaways
- • Processed gas volumes grew 11% year-over-year to 1.75 Bcf/d
- • Lower commodity pricing partially offset volume growth
- • Higher operating costs, particularly rental equipment and electricity
- • Proportionate EBITDA from unconsolidated affiliates of $88.1 million for Q2
- • Product revenue increased to $311.6 million from $260.1 million year-over-year
- • Service revenue grew to $112.7 million from $96.4 million year-over-year
KNTK YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
KNTK Revenue by Segment
With YoY comparisons, source: SEC Filings
“Kinetik navigated both successes and challenges in the second quarter of 2025. First and foremost, I am incredibly proud of our team's focus on operational execution and meeting our customers' needs during a period marked with macroeconomic uncertainty and market volatility. For the quarter, we reported Adjusted EBITDA of $243 million with processed gas volumes growing 11% year-over-year. That growth was partially offset by lower commodity pricing and higher operating costs.”
— Jamie Welch, Q2 2025 Earnings Press Release
KNTK Earnings Trends
KNTK vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
KNTK EPS Trend
Earnings per share: estimate vs actual
KNTK Revenue Trend
Quarterly revenue: estimate vs actual
KNTK Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $0.24 | $-0.07 | -129.26% | $410.0M | -6.41% |
| Q4 25 BEAT FY | $0.34 | $2.16 | +543.05% | $430.4M | -7.66% |
| FY Full Year | $1.75 | $2.63 | +50.61% | $1.76B | -2.41% |
| Q3 25 MISS | $0.28 | $0.03 | -89.26% | $464.0M | +7.70% |
| Q2 25 MISS | $0.37 | $0.33 | -11.67% | $426.7M | +8.18% |
| Q1 25 MISS | $0.35 | $0.05 | -85.91% | $443.3M | +10.15% |