Kinder Morgan Reiterates Guidance as Project Backlog Grows, Posts Mixed Q2 Results

Kinder Morgan (NYSE:KMI) reported mixed second-quarter results on Wednesday, keeping its full-year earnings guidance steady while highlighting growth in its project pipeline.

The pipeline operator posted adjusted earnings of $0.28 per share, matching analyst estimates. Revenue came in at $4.04 billion, narrowly beating expectations of $3.75 billion.

One of the quarter’s bright spots was Kinder Morgan’s project backlog, which grew by $1.3 billion from the previous quarter as new projects were added. The expansion underscores the company’s continued focus on long-term infrastructure growth despite a challenging market environment.

For the full year, Kinder Morgan reaffirmed its earnings guidance at $1.27 per share, slightly below the $1.28 consensus forecast. The company also announced a 2% increase in its quarterly dividend to $0.2925 per share, payable on August 15, reinforcing its commitment to returning capital to shareholders.