Kinder Morgan Q3 EPS rises 17% to $0.28; 2024 Adjusted EBITDA now seen 2% below budget
Kinder Morgan reported third-quarter 2024 EPS of $0.28, up 17% from a year earlier, and net income attributable to KMI of $625 million, up from $532 million. The company lowered its 2024 outlook: it now expects Adjusted EBITDA about 2% and Adjusted EPS about 4% below budget, though it still expects both to rise versus 2023, which matters to shareholders because the budget was the prior benchmark.
- Q3 2024 EPS of $0.28, up 17%; Adjusted EPS of $0.25, flat versus Q3 2023
- Q3 Adjusted EBITDA of $1,880 million, up 2% from $1,835 million
- 2024 outlook: Adjusted EBITDA about 2% below budget and Adjusted EPS about 4% below budget, but up 5% and 9% versus 2023
- Quarterly dividend of $0.2875 per share, a 2% increase over Q3 2023, payable November 15, 2024