Kinder Morgan Inc (KMI) has reported $996 million in internet revenue for the fourth quarter of 2025 and $3.06 billion for the 12 months, the corporate’s highest This autumn and annual outcomes.
The rise was pushed by its pure gasoline pipelines enterprise, which rode on rising demand for liquefied pure gasoline (LNG), in line with an announcement on the Houston, Texas-based firm’s web site.
Government chair Richard D. Kinder stated KMI has delivered over 40 p.c of feed gasoline to United States liquefaction services amid the Russia-Ukraine conflict, noting the U.S. has turn out to be an important vitality exporter to Europe.
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“Led by record-setting efficiency in our pure gasoline pipelines enterprise section, the corporate delivered its highest ever fourth-quarter and full-year internet revenue attributable to KMI and adjusted EBITDA”, Dang stated.
KMI carried 48,353 billion British thermal items a day (BBtud) of gasoline in October-December 2025, up from 44,507 BBtud from the identical quarter in 2024. Over the past 12 months, gasoline transport volumes averaged 46,603 BBtud, up from 44,252 BBtud in 2024, KMI stated.
KMI’s gasoline gross sales volumes averaged 4,045 BBtud in This autumn 2025 and three,302 BBtud within the full 12 months. Fuel gathering volumes averaged 4,513 BBtud in This autumn 2025 and three,792 BBtud in 2025, KMI stated.
“Development within the fourth quarter of 2025 relative to the fourth quarter of 2024 was due primarily to increased contributions from our Texas Intrastate system, KinderHawk and Outrigger Vitality property”, stated KMI president Tom Martin.
“Pure gasoline transport volumes have been up 9 p.c in comparison with the fourth quarter of 2024 primarily because of LNG deliveries on Tennessee Fuel Pipeline.
“Pure gasoline gathering volumes have been up 19 p.c from the fourth quarter of 2024 throughout all property, with our KinderHawk system making the biggest contribution”.
Earnings earlier than depreciation, depletion and amortization (EBDA) from the gasoline pipelines section got here at $1.8 billion for This autumn 2025, up from $1.38 billion for This autumn 2024. The 2025 whole was $6.08 billion, up from $5.39 billion for 2024, KMI stated.
Adjusted section EBDA from the gasoline pipelines section for This autumn 2025 landed at $1.63 billion, up from $1.43 billion for This autumn 2024. The 2025 adjusted determine was $5.91 billion, up from $5.44 billion for 2024, KMI stated.
KMI’s merchandise pipelines delivered 2.04 million barrels per day (MMbd) in This autumn 2025, in comparison with 2.11 MMbd in This autumn 2024. The yearly common was 2.1 MMbd, steady towards 2024, in line with the corporate report.
Merchandise pipelines EBDA totaled $307 million for This autumn 2025, up from $299 million for This autumn 2024. Yearly section EBDA totaled $1.16 billion, flat towards 2024, KMI stated. It didn’t ebook any EBDA adjustment for the merchandise pipelines section.
Income throughout KMI’s operations together with its terminals and CO2 segments totaled $4.51 billion for This autumn 2025, up from $4 billion for This autumn 2024. Yearly income was $16.94 billion, up from $15.1 billion for 2024.
Adjusted internet revenue totaled $866 million for This autumn 2025, up from $708 million for This autumn 2024. The 2025 determine was $2.9 billion, up from $2.57 billion for 2024, KMI stated.
This autumn 2025 adjusted earnings per share (EPS) stood at $0.39, up from $0.32 for This autumn 2024. This autumn 2025 EPS beat the Zacks Consensus Estimate of 37 cents. KMI bumped up its This autumn dividend per share by two p.c year-on-year to $0.2925, leading to an annualized dividend of $1.17 per share.
Adjusted EBITDA totaled $2.27 billion for This autumn 2025, up from $2.06 billion for This autumn 2024. The 2025 determine was $8.39 billion, up from $7.94 billion for 2024, KMI stated.
Fuel Energy on the Rise
“Within the fourth quarter, we continued to internally fund high-quality capital tasks whereas producing money circulate from operations of $1.7 billion and free money circulate after capital expenditures of $0.9 billion, up 12 p.c and 18 p.c, respectively, from the prior 12 months interval”, Dang stated. “Our steadiness sheet stays wholesome, as we ended the quarter with a internet debt-to-adjusted EBITDA ratio of three.8 instances.
“General, whole demand for pure gasoline is predicted to develop by 17 p.c by way of 2030, led by LNG exports. We’ve long-term contracts to maneuver eight billion cubic ft per day (Bcfd) of pure gasoline feedstocks to LNG services, which is projected to develop to 12 Bcfd by the tip of 2028.
“We’re additionally actively exploring greater than 10 Bcfd of alternatives to serve the pure gasoline energy technology sector.
“Within the markets we serve, we count on sturdy development in energy demand within the coming years, pushed each by inhabitants development and knowledge middle siting. In reality, roughly 70 p.c of future energy demand from knowledge facilities beneath improvement is in states served by our property.
“With greater than 65,000 miles of pure gasoline pipelines linked to all main basins and demand facilities, together with greater than 700 Bcf of working gasoline storage capability, we’re assured that we are going to safe our share of further pure gasoline infrastructure tasks supporting demand development of all sorts.
“Reflecting this robust demand, pure gasoline tasks account for roughly 90 p.c of our challenge backlog and practically 60 p.c of the backlog is related to tasks supporting energy technology. Our backlog on the finish of the fourth quarter of 2025 was $10 billion, as we added $912 million of tasks whereas inserting roughly $265 million of tasks in service”.
To contact the writer, electronic mail jov.onsat@rigzone.com
