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

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).

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.

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