Kinder Morgan, Inc. Q3 2025 Earnings Recap

KMI Q3 2025 October 23, 2025

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Kinder Morgan delivered a robust Q3 2025 performance with EBITDA rising 6% and adjusted EPS increasing 16% year-over-year, driven by strong execution on growth projects and an expanding natural gas market.

Earnings Per Share Miss

$0.29 vs $0.29 est.

-1.0% surprise

Revenue Beat

4146000000 vs 3977963255 est.

+4.2% surprise

Market Reaction

1-Day -1.49%

5-Day -0.65%

30-Day +2.17%

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Key Takeaways

Outperformance projected for the full year, significantly supported by the Outrigger acquisition.
The natural gas segment, which represents two-thirds of revenue, exceeded budget expectations despite challenges in RIN prices.
Expansion backlog remains strong at $9.3 billion, with a disciplined capital deployment approach reflected in a backlog multiple below 6x.
The company is positioned to capitalize on a projected 28 Bcf/d increase in natural gas demand by 2030, primarily driven by LNG exports and power generation.
A significant portion of the backlog is secured by take-or-pay contracts, enhancing future cash flow stability and visibility.

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.

Next Q1 2026