Q4 25 EPS
$2.16
BEAT +543.05%
Est. $0.34
Q4 25 Revenue
$430.4M
MISS 7.66%
Est. $466.1M
vs S&P Since Q4 25
-1.0%
TRAILING MARKET
KNTK +8.1% vs S&P +9.1%
Full Year 2025 Results
FY 25 EPS
$2.63
BEAT +50.61%
Est. $1.75
FY 25 Revenue
$1.76B
MISS 2.41%
Est. $1.81B
Market Reaction
Did KNTK Beat Earnings? Q4 2025 Results
Kinetik Holdings delivered a headline-grabbing Q4 2025 earnings beat, though the story behind the numbers requires important context. The Permian Basin midstream operator posted EPS of $2.16 against a consensus estimate of just $0.33, a 554.55% beat … Read more Kinetik Holdings delivered a headline-grabbing Q4 2025 earnings beat, though the story behind the numbers requires important context. The Permian Basin midstream operator posted EPS of $2.16 against a consensus estimate of just $0.33, a 554.55% beat driven almost entirely by a $415.41 million one-time gain on the sale of its equity interest in EPIC Crude Holdings, which closed October 31, 2025. Revenue of $430.42 million grew 11.6% year over year but fell 9.19% short of the $473.99 million consensus, with weak Waha Hub natural gas pricing triggering production shut-ins that cut volumes more than 8% below management expectations. Operationally, the Midstream Logistics segment posted solid 15% Adjusted EBITDA growth to $173.08 million, while full-year record Adjusted EBITDA reached $987.70 million. Questions about the durability of underlying margins have surfaced given the non-recurring profit driver. Looking ahead, Kinetik guided 2026 Adjusted EBITDA to $950 million to $1.05 billion, representing 7% growth at the midpoint, with improving natural gas fundamentals expected as approximately 5 Bcf/d of new Permian takeaway capacity comes online by early 2027.
Key Takeaways
- • Midstream Logistics Adjusted EBITDA increased 15% year-over-year to $173.1 million in Q4
- • Gulf Coast marketing gains partially offset Waha price-related production shut-ins
- • Gas processed volumes of 1.79 Bcf/d, a 3% increase year-over-year
- • $415.4 million gain on sale of equity interest in EPIC Crude Holdings
- • Record full-year Adjusted EBITDA of $987.7 million
KNTK YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
KNTK Revenue by Segment
With YoY comparisons, source: SEC Filings
“2025 was a year of challenges and strategic progress for Kinetik as we navigated a difficult operating environment.”
— Jamie Welch, Q4 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% |