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Technology Stocks : KMI- a fallen high dividend yielder - for how long?
KMI 18.46+0.4%Oct 15 4:00 PM EDT

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From: E_K_S10/22/2020 2:26:33 PM
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Kinder Morgan EPS beats by $0.01, beats on revenue
Oct. 21, 2020 4:06 PM ET|About: Kinder Morgan, Inc. (KMI)|By: Vandana Singh, SA News Editor

Kinder Morgan (NYSE: KMI): Q3 Non-GAAP EPS of $0.21 beats by $0.01; GAAP EPS of $0.20 misses by $0.01.

Revenue of $2.92B (-9.0% Y/Y) beats by $10M.

Adjusted EBITDA decreased 7% Y/Y to $1.7B and distributable cash flow is down 5% to $1.1B.

Press Release

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Kinder Morgan swings to Q3 profit but sees full-year DCF below plan
Oct. 21, 2020 5:45 PM ET|About: Kinder Morgan, Inc. (KMI)|By: Carl Surran, SA News Editor

Kinder Morgan (NYSE: KMI) -1.2% after-hours as adjusted Q3 earnings edged estimates while revenues fell 9% Y/Y to $2.92B, as weaker natural gas prices due to the pandemic hurt production and transportation of fuel.

Kinder reports a $455M profit in Q3, 10% less than $506M in the year-ago quarter, but the results mark a turnaround from the $637M loss in Q2, when the company wrote down $1B in assets.

Q3 distributable cash flow fell 5% Y/Y to $1.08B, and for the full year, Kinder reiterates it expects DCF to be below the planned $5.1B by slightly more than 10% and adjusted EBITDA to come in below the $7.6B original plan by slightly more than 8%.

The company now expects its planned $2.4B of expansion projects and contributions to joint ventures for 2020 will come in $680M lower, or 30%; with the reduction, DCF less expansion capital expenditures is improved by ~$135M compared to the original budget.

Kinder says its $2B Permian Highway pipeline project is 97% completed and on schedule to begin service in early 2021.

Shareholders will receive a distribution of $0.2625/share for Q3, in-line with the previous payout.

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Lower CapX as you expected
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