Kinder Morgan, Inc. Q2 2026 Earnings Recap

KMI Q2 2026 July 25, 2026

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Kinder Morgan shares edged up 1.2% post-earnings, reflecting a broadly in-line quarter with moderate beats on growth and margins but no catalyst for a stronger market move.

Earnings Per Share Beat

$0.37 vs $0.32 est.

+15.4% surprise

Revenue Beat

4477000000 vs 4224256000 est.

+6.0% surprise

Market Reaction

Post-Earnings +1.20%

Jul 25 to Jul 31 -2.07%

Jul 25 to Aug 20 -3.8%

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Key Takeaways

Adjusted EBITDA rose 12% year-over-year, while adjusted EPS grew 32%, both exceeding 2026 budget expectations.
Transport volumes in the Natural Gas unit increased 7%, with gathering volumes up 26%, driven largely by strong performance in the Haynesville.
Products Pipelines segment showed volume declines of 5% for refined products and 16% for crude and condensate, impacted by asset conversions.
The backlog decreased slightly by $0.5 billion to $9.6 billion as projects were placed into service, though nearly offset by $400 million in near-final project approvals.
Financial leverage stood at 3.6x, maintaining flexibility for growth investments while supporting dividends and capital discipline.

This summary was generated by AI from the official earnings call transcript and is provided for informational purposes only. It does not constitute financial advice. For the complete transcript and financial data, visit KMI on AllInvestView.

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