Kinder Morgan Posts Higher Profit, Revenue on Increased Natural Gas Demand https://t.co/xdRTyA9qtP
Kinder Morgan CEO: "A well-respected energy analyst recently noted that it’s ‘shaping up to be an incredible year for U.S. LNG growth, with record levels of feedgas demand and exports.’" $KMI: +0.1% AH https://t.co/joEBI5P8Wf
Pipeline operator #KinderMorgan posts higher second-quarter profit https://t.co/9M97G8VtBt
J.B. Hunt Transport Services and Kinder Morgan delivered contrasting second-quarter results, highlighting the diverging fortunes of U.S. freight haulers and energy infrastructure operators. Lowell, Arkansas-based J.B. Hunt reported revenue of $2.93 billion for the period ended 30 June, unchanged from a year earlier. Net income slipped to $128.6 million, or $1.31 a share, as operating income fell 4 percent. Management said intermodal demand remained steady but yields and margins stayed under pressure. The carrier repurchased 2.4 million shares for $319 million, leaving $335 million on its authorization, and has identified roughly $100 million in cost-saving measures. The stock fell about 3 percent in after-hours trading. Houston-based Kinder Morgan benefited from stronger natural-gas flows, posting a 24 percent jump in net income to $715 million on revenue of $4.04 billion, up 13 percent. Adjusted EBITDA reached a record $1.97 billion, slightly above analysts’ projections, while adjusted earnings were $0.28 a share. The pipeline operator kept full-year guidance intact at $1.27 in adjusted EPS, a $1.17 dividend and a net-debt-to-EBITDA ratio of 3.8 times. Shares were little changed in late trading.