Kinder Morgan Third Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Simply Wall St · 10/18 11:33

Kinder Morgan (NYSE:KMI) Third Quarter 2024 Results

Key Financial Results

  • Revenue: US$3.70b (down 5.3% from 3Q 2023).
  • Net income: US$625.0m (up 18% from 3Q 2023).
  • Profit margin: 17% (up from 14% in 3Q 2023). The increase in margin was driven by lower expenses.
  • EPS: US$0.28 (up from US$0.24 in 3Q 2023).
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NYSE:KMI Earnings and Revenue Growth October 18th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Kinder Morgan EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 8.6%. Earnings per share (EPS) exceeded analyst estimates by 1.5%.

Looking ahead, revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Oil and Gas industry in the US.

Performance of the American Oil and Gas industry.

The company's shares are up 4.6% from a week ago.

Valuation

Following the latest earnings results, Kinder Morgan may be overvalued based on 6 different valuation benchmarks we assess. Click here to find out what a fair price for the stock might be and where analysts see the share price heading over the next year.