Shares of Kinder Morgan (NYSE: KMI) rose more than 2% intra-day on Thursday after the energy infrastructure company reported fourth-quarter results that exceeded Wall Street expectations, supported by record performance in its natural gas pipeline operations.
Kinder Morgan reported adjusted earnings of $0.39 per share, topping analyst estimates of $0.36. Revenue increased to $4.51 billion, surpassing the consensus forecast of $4.32 billion. The strong quarter capped a year in which the company delivered record annual net income and adjusted EBITDA.
Natural gas transportation volumes rose 9% year over year, driven primarily by increased liquefied natural gas deliveries on the Tennessee Gas Pipeline. Natural gas gathering volumes jumped 19% across the portfolio, with the KinderHawk system contributing the largest share of the increase.
Cash flow from operations totaled $1.7 billion during the quarter, while free cash flow after capital expenditures reached $0.9 billion, representing increases of 12% and 18%, respectively, compared with the prior-year period.
Looking ahead, Kinder Morgan said it expects adjusted earnings per share of $1.36 in 2026, representing 5% growth from 2025. The company also announced plans to raise its annual dividend by 2% to $1.19 per share in 2026.
