Daily reviews

21.01.2021

Kinder Morgan beats revenue estimates

Kinder Morgan beats revenue estimates

For 2021, KMI’s budget contemplates $2.1 billion in net income attributable to KMI

Stocks impacted: Kinder Morgan Inc (KMI)

Kinder Morgan reported a 24.5% rise in fourth-quarter profit and posted revenues of $3.12 billion for the quarter ended December 2020. Adjusted profit rose to $604 million, or 27% per share, in the three months ended December 31, from $485 million, or 21% per share, in the third quarter. The pipeline operator reported fourth-quarter net income attributable to KMI of $607 million, compared to net income attributable to KMI of $610 million in the fourth quarter of 2019. For the full year 2020, the firm reported net income attributable to KMI of $119 million compared to $2,190 million in 2019. For 2021, KMI’s budget contemplates $2.1 billion in net income attributable to KMI, or $0.92 earnings per share, declared dividends of $1.08 per share, a 3% increase from the 2020 declared dividends.

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