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as of 08-20-2026 3:58pm EST

$31.64
$0.44
-1.37%
Stocks Utilities Natural Gas Distribution Nasdaq

Kinder Morgan operates natural gas, crude oil, and refined products pipelines connecting producing regions to demand centers. It is principally involved in the gathering, storage, and transmission of natural gas across the continental United States. It also operates distribution centers for refined products along with the largest fleet of Jones Act-compliant tankers.

Founded: 1936 Country:
United States
United States
Employees: N/A City: HOUSTON
Market Cap: 73.1B IPO Year: 2010
Target Price: $33.69 AVG Volume (30 days): 9.8M
Analyst Decision: Buy Number of Analysts: 16
Dividend Yield:
3.74%
Dividend Payout Frequency: quarterly
EPS: 0.82 EPS Growth: 17.09
52 Week Low/High: $25.60 - $34.80 Next Earning Date: 04-22-2026
Revenue: $16,937,000,000 Revenue Growth: 12.17%
Revenue Growth (this year): 5.43% Revenue Growth (next year): 4.52%
P/E Ratio: 39.12 Index:
Free Cash Flow: 2.9B FCF Growth: +49.95%

AI-Powered KMI Daily Prediction

Machine learning model trained on 25+ technical indicators

Updated a day ago

AI Recommendation

hold
Model Accuracy: 72.87%
72.87%
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Disclaimer: This prediction is generated by an AI model and should not be considered as financial advice. Always conduct your own research and consult with financial professionals before making investment decisions.

Stock Insider Trading Activity of Kinder Morgan Inc. (KMI)

Garthwaite Michael P.

VP (Pres., Products Pipelines)

Sell
KMI Aug 17, 2026

Avg Cost/Share

$32.65

Shares

1,550

Total Value

$50,612.15

Owned After

50,413

SEC Form 4

Earnings Transcripts

SEC 8-K filings with transcript text

View All
2026
Q2

Q2 2026 Earnings

8-K BUY

Jul 22, 2026 · 78% conf.

AI Prediction BUY

1D

+1.12%

$32.85

Act: +0.80%

5D

+2.40%

$33.27

Act: -1.94%

20D

+4.77%

$34.04

Act: -1.26%

Price: $32.49 Prob +5D: 89% AUC: 1.000
0001506307-26-000063

EX-99.1

2 kmi2026q28-kex991.htm

EX-99.1

Document

Exhibit 99.1

KINDER MORGAN REPORTS SECOND QUARTER 2026 FINANCIAL RESULTS

Achieves Record Second Quarter Net Income and Adjusted EBITDA

Earnings per share (EPS) 22% greater than 2025; Adjusted EPS up 32%

HOUSTON, July 22, 2026 - Kinder Morgan, Inc.’s (NYSE: KMI) board of directors today approved a cash dividend of $0.2975 per share for the second quarter ($1.19 annualized), payable on August 17, 2026, to stockholders of record as of the close of business on August 3, 2026. This dividend is a 2% increase over the second quarter of 2025.

KMI is reporting:

•Second quarter net income attributable to KMI of $867 million, an all-time record high for the second quarter. This was up from $715 million in the second quarter of 2025. Adjusted Net Income Attributable to KMI, which excludes Certain Items, was $821 million, 33% higher than the second quarter of 2025.

•Adjusted EBITDA of $2,199 million was also a record for the second quarter and was up 12% versus the second quarter of 2025.

•Earnings per share (EPS) of $0.39, up 22% versus the second quarter of 2025, and Adjusted EPS of $0.37, up 32% versus the second quarter of 2025.

“Our fee-based business model, strategically located network of assets, and portfolio of long-term contracts with financially strong customers continue to support stable and predictable cash flows,” Executive Chairman Richard D. Kinder said.

“At the same time, demand for natural gas infrastructure continues to grow. Increasing LNG exports, rising power demand, and industrial expansion make our existing highly utilized assets more valuable and create significant opportunities for investment across our footprint.

“The company’s stable cash flows provide the financial flexibility to fund virtually all of our project backlog internally, support a growing dividend and maintain a strong balance sheet,” Kinder said. “We expect those projects to generate attractive returns, driving future earnings and cash flow growth while helping meet the nation's growing energy infrastructure needs.”

“Strong financial contributions from our business segments resulted in a record second quarter. The company delivered second quarter 2026 net income attributable to KMI of $867 million, 21% higher than the second quarter of 2025, while Adjusted EPS and Adjusted EBITDA were

32% and 12% higher, respectively, than the second quarter of 2025,” Chief Executive Officer Kim Dang said.

Dang continued, “In the second quarter, we continued to internally fund high-quality capital projects while generating cash flow from operations of $2 billion and free cash flow (FCF), which is after capital expenditures, of $1 billion. Our balance sheet remains healthy, as we ended the quarter with a Net Debt-to-Adjusted EBITDA ratio of 3.6 times, at the low end of our targeted range.

“We also achieved very strong results from capital expansion project execution this quarter, placing approximately $660 million (KM-share) in expansion projects into service. These included Tennessee Gas Pipeline’s (TGP) Cumberland Project that will serve a new natural gas-fired power plant in Tennessee; Hiland Express, a conversion of our Double H Pipeline system from crude oil to natural gas liquids service; and the eagerly anticipated Gulf Coast Express pipeline expansion to increase natural gas flows from the Permian Basin to South Texas markets. These revenue-generating expansion projects now join our strong base business, adding to our unparalleled network of pipeline and storage assets.

“As a result of placing those large projects into service, our project backlog at the end of the second quarter of 2026 was $9.6 billion, down $500 million from the first quarter of 2026, although the board today provided contingent approval on almost $400 million in projects that are not yet in the backlog. Natural gas projects account for approximately 92% of our project backlog, and more than 60% of the backlog is associated with projects supporting power generation and local distribution company demand. Even beyond the backlog, we continue to see strong interest from our customers in developing additional natural gas infrastructure.

“In calculating backlog Project EBITDA multiples, we exclude both the capital and EBITDA from our CO2 enhanced oil recovery projects and our gathering and processing projects where first-full-year multiples are more favorable, but the earnings are more uneven than with our other business segments. We expect the remaining $8.5 billion of projects in the backlog, when realized, to generate an aggregate first-full-year Project EBITDA multiple of approximately 5.6 times.”

2026 Outlook

For 2026, KMI budgeted net income attributable to KMI of $3.1 billion, Adjusted EPS of $1.36, declared dividends of $1.19 per share, Adjusted EBITDA of $8.6 billion, and year-end Net Debt-to-Adjusted EBITDA of 3.8 times. Based on results through the second quarter, KMI currently expects to be mo

2026
Q1

Q1 2026 Earnings

8-K

Apr 22, 2026

0001506307-26-000033

EX-99.1

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EX-99.1

Document

Exhibit 99.1

KINDER MORGAN REPORTS FIRST QUARTER 2026

FINANCIAL RESULTS

Substantial financial outperformance in the quarter

Earnings per share (EPS) 38% greater than 2025; Adjusted EPS up 41%

HOUSTON, April 22, 2026 - Kinder Morgan, Inc.’s (NYSE: KMI) board of directors today approved a cash dividend of $0.2975 per share for the first quarter ($1.19 annualized), payable on May 15, 2026, to stockholders of record as of the close of business on May 4, 2026. This dividend is a 2% increase over the first quarter of 2025.

KMI is reporting:

•First quarter net income attributable to KMI of $976 million versus $717 million in the first quarter of 2025. Adjusted Net Income Attributable to KMI, excluding Certain Items, was $1,063 million, 39% higher than the first quarter of 2025.

•Adjusted EBITDA of $2,539 million, up 18% versus the first quarter of 2025.

•Earnings per share (EPS) of $0.44, up 38% versus the first quarter of 2025; and Adjusted EPS of $0.48, up 41% versus the first quarter of 2025.

“The geopolitical landscape became even more turbulent this quarter, with conflict in the Middle East joining the ongoing war in Ukraine as a source of significant commodity price volatility,” said Executive Chairman Richard D. Kinder. “As a fee-based midstream energy company with highly creditworthy shippers, we are largely insulated from that volatility. Longer-term, these global conflicts highlight the benefits of securing liquified natural gas (LNG) supplies from the United States, driving incremental demand for the services we provide those shippers. And apart from geopolitics, projections for domestic natural gas demand growth, particularly in the power sector, continue to be robust.

“We believe we will continue to thrive as a company by remaining disciplined and committed to our original strategy—owning high‑quality midstream energy assets supported by long‑term, take‑or‑pay, fee‑based contracts with creditworthy customers,” Kinder said. “This foundation gives us confidence in our ability to continue delivering consistent cash flows, attractive growth, and long‑term shareholder value for many years to come.”

“For the quarter all of our business segments were well up, excluding Certain Items, versus the first quarter of 2025. Our Natural Gas Pipelines segment drove the bulk of that outperformance, benefiting from winter storm Fern and extended cold weather. The company delivered first

quarter 2026 net income attributable to KMI of $976 million, 36% higher than the first quarter of 2025 — while Adjusted EPS and Adjusted EBITDA were 41% and 18% higher, respectively, than the first quarter of 2025,” said Chief Executive Officer Kim Dang.

“In the first quarter, we continued to internally fund high-quality capital projects while generating cash flow from operations of $1.5 billion and free cash flow (FCF) after capital expenditures of $0.7 billion, up 28% and 73%, respectively, from the prior year period. Our balance sheet remains healthy, as we ended the quarter with a Net Debt-to-Adjusted EBITDA ratio of 3.6 times.

“We were also pleased this quarter to receive an upgrade from Moody’s, which joined the other two rating agencies in classifying the company as the equivalent of BBB+. This is a recognition of the work so many in the company have done over the years to achieve robust earnings, strong projected growth, and a very healthy balance sheet,” continued Dang.

“While our expansion projects and backlog receive quite a bit of attention, and deservedly so, this quarter’s outperformance is also a testament to the strength of our base business, particularly natural gas. With more than 65,000 miles of natural gas pipelines connected to all major basins and demand centers, along with more than 700 billion cubic feet (Bcf) of working gas storage capacity, we are well poised to support demand growth across the country. Indeed, the growth in utilization of our five major natural gas pipeline systems has been astounding. In 2016, the annual average utilization of those systems was 74%. In 2025, utilization reached 90%,” said Dang.

“Reflecting that high utilization and the robust demand we see coming, our project backlog at the end of the first quarter of 2026 was $10.1 billion, up $145 million from the fourth quarter of 2025, as we added $375 million of projects while placing $230 million of projects in service. Natural gas projects account for approximately 92% of our project backlog and nearly 60% of the backlog is associated with projects supporting power generation and local distribution company demand. Even beyond the backlog, we continue to see strong interest from our customers in developing additional natural gas infrastructure.

“In calculating backlog Project EBITDA multiples, we exclude both the capital and EBITDA from our CO2 enhanced oil recovery projects and our gathering and processing projects, where first-full-year multiples are more favorable,

2025
Q4

Q4 2025 Earnings

8-K

Jan 21, 2026

0001506307-26-000002

EX-99.1

2 kmi2025q48-kex991.htm

EX-99.1

Document

Exhibit 99.1

KINDER MORGAN REPORTS FOURTH QUARTER 2025

FINANCIAL RESULTS

Achieves Record Annual Net Income and Adjusted EBITDA

2025 Earnings per share (EPS) 17% greater than 2024; Adjusted EPS up 13%

HOUSTON, January 21, 2026 - Kinder Morgan, Inc.’s (NYSE: KMI) board of directors today approved a cash dividend of $0.2925 per share for the fourth quarter ($1.17 annualized), payable on February 17, 2026, to stockholders of record as of the close of business on February 2, 2026. This dividend is a 2% increase over the fourth quarter of 2024.

KMI is reporting:

•Fourth quarter net income attributable to KMI of $996 million versus $667 million in the fourth quarter of 2024. Adjusted Net Income Attributable to KMI, excluding Certain Items, primarily from a gain on an asset sale during the fourth quarter of 2025, was $866 million, 22% higher than the fourth quarter of 2024.

•Adjusted EBITDA of $2,271 million, up 10% versus the fourth quarter of 2024.

•Earnings per share (EPS) of $0.45, up 50% versus the fourth quarter of 2024; and Adjusted EPS of $0.39, up 22% versus the fourth quarter of 2024.

“Few would have predicted that the war in Ukraine would soon be entering its fourth year,” said Executive Chairman Richard D. Kinder. “Throughout the conflict, the United States has been a vital guarantor of European energy security, as America continues to lead the world in exports of liquefied natural gas (LNG). Our company has been proud to play a key role in that leadership, delivering more than 40% of the natural gas feedstock to U.S. LNG facilities.

“It is particularly gratifying to maintain leadership in our sector by staying true to our original vision: owning midstream energy assets anchored by long-term, take-or-pay, fee-based contracts with creditworthy customers” Kinder continued. “I have no doubt that we will continue delivering strong growth, reliable performance, and sustained value for many years to come.”

“Led by record-setting performance in our Natural Gas Pipelines business segment, the company delivered its highest ever fourth quarter and full-year net income attributable to KMI and Adjusted EBITDA. For the full year, net income attributable to KMI was 17% higher than 2024 while Adjusted EPS and Adjusted EBITDA were 13% and 6% higher than 2024, respectively,” said Chief Executive Officer Kim Dang.

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“In the fourth quarter, we continued to internally fund high-quality capital projects while generating cash flow from operations of $1.7 billion and free cash flow (FCF) after capital expenditures of $0.9 billion, up 12% and 18%, respectively, from the prior year period. Our balance sheet remains healthy, as we ended the quarter with a Net Debt-to-Adjusted EBITDA ratio of 3.8 times,” continued Dang.

“Overall, total demand for natural gas is expected to grow by 17% through 2030, led by LNG exports. We have long-term contracts to move 8 billion cubic feet per day (Bcf/d) of natural gas feedstocks to LNG facilities, which is projected to grow to 12 Bcf/d by the end of 2028. We are also actively exploring more than 10 Bcf/d of opportunities to serve the natural gas power generation sector.

“In the markets we serve, we expect robust growth in power demand in the coming years, driven both by population growth and data center siting. In fact, approximately 70% of future power demand from data centers under development is in states served by our assets. With more than 65,000 miles of natural gas pipelines connected to all major basins and demand centers, along with more than 700 Bcf of working gas storage capacity, we are confident that we will secure our share of additional natural gas infrastructure projects supporting demand growth of all types,” said Dang.

“Reflecting this strong demand, natural gas projects account for approximately 90% of our project backlog and nearly 60% of the backlog is associated with projects supporting power generation. Our backlog at the end of the fourth quarter of 2025 was $10 billion, as we added $912 million of projects while placing approximately $265 million of projects in service.

“In calculating backlog Project EBITDA multiples, we exclude both the capital and EBITDA from our CO2 enhanced oil recovery projects and our gathering and processing projects, where first-full-year multiples are more favorable but the earnings are more uneven than with our other business segments. We expect the remaining $8.6 billion of projects in the backlog, when realized, to generate an aggregate first-full-year Project EBITDA multiple of approximately 5.6 times,” continued Dang.

2026 Outlook

KMI’s 2026 budgeted net income attributable to KMI of $3.1 billion is flat to the previous year, as 2025 included a gain on an asset sale which we treat as a certain item. KMI’s 2026 budgeted adjusted net income attributable to KMI, which excludes certain items, is 5% higher than 2025, given the company’s outperformance in 2025, and Adjusted

2025
Q3

Q3 2025 Earnings

8-K

Oct 22, 2025

0001506307-25-000063

EX-99.1

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EX-99.1

Document

Exhibit 99.1

KINDER MORGAN REPORTS THIRD QUARTER 2025

FINANCIAL RESULTS

Earnings per Share (EPS) Flat to the Third Quarter of 2024

Adjusted EPS Up 16%

HOUSTON, October 22, 2025 - Kinder Morgan, Inc.’s (NYSE: KMI) board of directors today approved a cash dividend of $0.2925 per share for the third quarter ($1.17 annualized), payable on November 17, 2025, to stockholders of record as of the close of business on November 3, 2025. This dividend is a 2% increase over the third quarter of 2024.

KMI is reporting:

•Third quarter net income attributable to KMI was $628 million versus $625 million in the third quarter of 2024; excluding Certain Items, which had a negative impact on net income attributable to KMI in 2025 and a positive impact in 2024, Adjusted Net Income Attributable to KMI was $648 million, 16% higher than the third quarter of 2024.

•Adjusted EBITDA of $1,991 million, up 6% versus the third quarter of 2024.

•Earnings per share (EPS) of $0.28, flat to the third quarter of 2024; and Adjusted EPS of $0.29, up 16% versus the third quarter of 2024.

“We are firmly in an era of American global energy leadership,” said Executive Chairman Richard D. Kinder. “The United States continues to lead the world in natural gas production and in exports of liquefied natural gas (LNG), providing enhanced energy security to allies around the world.

“With historic growth in global natural gas demand, a favorable federal regulatory landscape, and strong support from permitting agencies, the outlook for our company is exceptionally promising,” Kinder continued. “Our long-standing business model—owning midstream energy assets anchored by long-term, take-or-pay, fee-based contracts with creditworthy customers—positions us to continue delivering reliable performance and sustained value.”

“The company generated strong third quarter net income attributable to KMI and Adjusted EBITDA, with increased financial contributions from our Natural Gas Pipelines, Products Pipelines, and Terminals business segments versus the third quarter of 2024, along with very strong operational performance and project execution,” said Chief Executive Officer Kim Dang.

“We continued to internally fund high-quality capital projects while generating cash flow from operations of $1.4 billion and free cash flow (FCF) after capital expenditures of $0.6 billion, up 13% and 5%, respectively, from the prior year period. Our balance sheet remains healthy, as we ended the quarter with a Net Debt-to-Adjusted EBITDA ratio of 3.9 times,” continued Dang.

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“KMI is seeing an opportunity set more robust than at any time in the company’s history. U.S. LNG nameplate capacity is expected to more than double by 2030. We currently have long-term contracts to move almost 8 billion cubic feet per day (Bcf/d) of natural gas to LNG facilities and, upon completion of projects under construction, that amount is expected to grow to almost 12 Bcf/d by the end of 2028. We are also pursuing a substantial number of additional LNG feedgas opportunities,” said Dang.

“Overall, total demand for natural gas is expected to grow by 20% through 2030, led by LNG exports. We are also actively exploring more than 10 Bcf/d of opportunities to serve the natural gas power generation sector. Approximately 50% of our backlog is associated with projects supporting power generation. In the markets we serve, we expect robust growth in power demand in the coming years. With 66,000 miles of natural gas pipelines connected to all major basins and demand centers, along with more than 700 Bcf of working gas storage capacity, we are confident that we will secure our share of additional natural gas infrastructure projects supporting demand growth,” said Dang.

“Reflecting this strong demand, natural gas projects account for approximately 90% of our project backlog. At the end of the third quarter of 2025, the backlog stood at $9.3 billion, with approximately $500 million of projects placed in service during the quarter offset by a roughly equivalent amount of projects added.

“In calculating backlog Project EBITDA multiples, we exclude both the capital and EBITDA from our CO2 enhanced oil recovery projects and our gathering and processing projects, where first-full-year multiples are more favorable but the earnings are more uneven than with our other business segments. We expect the remaining $7.9 billion of projects in the backlog, when realized, to generate an aggregate first-full-year Project EBITDA multiple of approximately 5.7 times,” continued Dang.

“Looking ahead, we anticipate meaningful tax advantages that will further strengthen our cash flow profile. The permanent reinstatement of bonus depreciation and the potential for expanded interest expense deductibility are expected to reduce our cash tax liability starting in 2025, with even greater benefits as new projects come online in 2026 and 2027. Additionally, recent regulatory adjus

2025
Q2

Q2 2025 Earnings

8-K

Jul 16, 2025

0001506307-25-000042

EX-99.1

2 kmi2025q28-kex991.htm

EX-99.1

Document

Exhibit 99.1

KINDER MORGAN REPORTS SECOND QUARTER 2025

FINANCIAL RESULTS

Earnings per share (EPS) up 23% versus Q2 2024; Adjusted EPS up 12%

Added $1.3 Billion to Project Backlog

Placed $750 Million of Projects in Service

HOUSTON, July 16, 2025 - Kinder Morgan, Inc.’s (NYSE: KMI) board of directors today approved a cash dividend of $0.2925 per share for the second quarter ($1.17 annualized), payable on August 15, 2025, to stockholders of record as of the close of business on July 31, 2025. This dividend is a 2% increase over the second quarter of 2024.

KMI is reporting:

•Second quarter net income attributable to KMI of $715 million, up 24% versus $575 million in the second quarter of 2024; and Adjusted Net Income Attributable to KMI of $619 million, 13% higher than the second quarter of 2024.

•Adjusted EBITDA of $1,972 million, up 6% versus the second quarter of 2024.

“We are truly in an age of American global energy leadership. The United States has been the top global producer of natural gas for 15 consecutive years and the world’s top exporter of liquefied natural gas (LNG) since 2023,” said Executive Chairman Richard D. Kinder.

“With historic growing natural gas demand forecasts, a positive federal regulatory environment, and highly supportive federal permitting agencies, the future for our company is very bright. We will continue to reap the benefit of a business model structured around long-term take-or-pay, fee-based contracts with credit-worthy customers,” Kinder concluded.

“The company generated strong second quarter net income attributable to KMI and record Adjusted EBITDA, with increased financial contributions from our Natural Gas Pipelines and Terminals business segments versus the second quarter of 2024, very strong operational performance and project execution,” said Chief Executive Officer Kim Dang.

“We continued to internally fund high-quality capital projects while generating cash flow from operations of $1.6 billion and $1.0 billion in free cash flow (FCF) after capital expenditures. Our balance sheet remains healthy, as we ended the quarter with a Net Debt-to-Adjusted EBITDA ratio of 4.0 times,” continued Dang.

“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.’ The longer term looks robust as well, as LNG nameplate capacity is expected to more than double by 2030. We

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currently have long-term contracts to move almost 8 billion cubic feet per day (Bcf/d) of natural gas to LNG facilities and, upon completion of projects under construction, that amount is expected to grow to almost 12 Bcf/d by the end of 2028. We are also pursuing a substantial number of additional LNG feedgas opportunities,” said Dang.

“Overall, total demand for natural gas is expected to grow by 20% through 2030, led by LNG exports. We are also actively pursuing well over 5 Bcf/d of opportunities to serve the natural gas power generation sector. Approximately 50% of our backlog is associated with projects supporting power generation. In the markets we serve, we expect nice growth in power demand in the coming years. With 66,000 miles of natural gas pipelines connected to all major basins and demand centers, along with over 700 Bcf of working gas storage capacity, we are confident that we will secure our share of additional natural gas infrastructure projects supporting rising natural gas demand,” said Dang.

“Our project backlog reflects this strong natural gas demand. At the end of the second quarter of 2025, the backlog stood at $9.3 billion, net of approximately $750 million in projects placed in service. This constitutes a 6% increase compared to $8.8 billion at the end of the first quarter of 2025. Natural gas projects account for approximately 93% of our backlog.

“In calculating backlog Project EBITDA multiples, we exclude both the capital and EBITDA from our CO2 enhanced oil recovery projects and our gathering and processing projects, where first-full-year multiples are more favorable but the earnings are more uneven than with our other business segments. We expect the remaining $7.6 billion of projects in the backlog, when realized, to generate an aggregate first-full-year Project EBITDA multiple of approximately 5.6 times,” continued Dang.

“In contrast to the supportive federal permitting atmosphere, the application of escalating tariffs presents some challenges. However, at this point we do not believe that tariffs will have a significant impact on project economics. On existing projects, we have successfully reduced the potential impact by preordering critical project components, negotiating caps on cost increases, and securing domestic steel and mill capacity for our larger projects, which total two-thirds of our project backlog. For these projects, we currently estimate the impact of tariffs to be roughly one percent of proje

2025
Q1

Q1 2025 Earnings

8-K

Apr 16, 2025

0001506307-25-000020

EX-99.1

2 kmi2025q18-kex991.htm

EX-99.1

Document

Exhibit 99.1

KINDER MORGAN REPORTS FIRST QUARTER 2025

FINANCIAL RESULTS

Approves Cash Dividend of $0.2925 per share ($1.17 annualized)

Added $900 Million to Project Backlog

Closed $640 Million Outrigger Acquisition

HOUSTON, April 16, 2025 - Kinder Morgan, Inc.’s (NYSE: KMI) board of directors today approved a cash dividend of $0.2925 per share for the first quarter ($1.17 annualized), payable on May 15, 2025 to stockholders of record as of the close of business on April 30, 2025. This dividend is a 2% increase over the first quarter of 2024.

KMI is reporting:

•First quarter net income attributable to KMI of $717 million, compared to $746 million in the first quarter of 2024; and Adjusted net income attributable to KMI of $766 million, 1% higher than the first quarter of 2024.

•Adjusted EBITDA of $2,157 million, up 1% versus the first quarter of 2024.

“Obviously we are going through turbulent times, with some voicing fears of an economic downturn. History shows that our company is largely insulated against temporary volatility, due to our time-tested business model structured around long-term take-or-pay, fee-based contracts with credit-worthy customers. As has been the case in past periods of economic instability, our company can be a safe haven during the storm,” said Executive Chairman Richard D. Kinder. “Looking past this temporary turbulence, we see a bright future based on robust market fundamentals combined with regulatory relief and a commitment to expediting energy infrastructure projects at the federal level.”

“The company enjoyed a solid quarter, with very strong operational performance and increased financial contributions from our Natural Gas Pipelines, CO2 and Terminals business segments versus the first quarter of 2024. Our Products Pipelines business segment was down mostly due to a turnaround at our condensate processing facility, which is required once every 10 years,” said Chief Executive Officer Kim Dang.

“We continued to internally fund high-quality capital projects while generating cash flow from operations of $1.2 billion and $0.4 billion in free cash flow (FCF) after capital expenditures. Our balance sheet remains healthy, as we ended the quarter with a Net Debt-to-Adjusted EBITDA ratio of 4.1 times,” continued Dang. “And we continued to grow our presence in the Bakken, closing on a $640 million acquisition of Outrigger Energy II’s gathering and processing system, which is backed by long-term contracts with commitments from major customers in the basin.

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“The landscape for natural gas continues to be more and more favorable. First quarter U.S. domestic natural gas production volumes were the highest on record. For the second year in a row, the U.S. set a first quarter demand record as demand grew by 6.8 billion cubic feet per day (Bcf/d) versus the first quarter of 2024. Residential/commercial natural demand and LNG feedgas demand were up 10% and 15%, respectively,” continued Dang.

“Further, our analysis indicates potential demand for U.S. natural gas is projected to grow between 20-28 Bcf/d by the end of the decade. According to Wood Mackenzie, demand for LNG feedgas is projected to more than double over the same period. We currently have long-term contracts to move approximately 7 Bcf/d to LNG facilities and, upon completion of projects under construction, that amount is expected to grow to approximately 11 Bcf/d by the end of 2027. We are also pursuing a substantial amount of additional LNG feedgas opportunities.

“In the natural gas power generation sector, we are actively pursuing well over 5 Bcf/d of opportunities to serve that market. With 66,000 miles of natural gas pipelines connected to all major basins and demand centers, along with over 700 billion cubic feet (Bcf) of working gas storage capacity, we are confident that we will secure our share of additional natural gas infrastructure supporting rising natural gas demand,” said Dang.

“Our project backlog also reflects this strong natural gas demand. At the end of the first quarter of 2025, the backlog stood at $8.8 billion, net of approximately $225 million in projects placed in service, a nearly 8% increase compared to $8.1 billion at the end of the fourth quarter of 2024. Natural gas projects account for approximately 91% of the backlog,” Dang continued. “The largest project added to the backlog is Bridge, an approximately $431 million project designed to provide 325 million cubic feet per day (MMcf/d) of firm transportation capacity to meet growing demand in the state of South Carolina.

“In calculating backlog Project EBITDA multiples, we exclude both the capital and EBITDA from our CO2 enhanced oil recovery projects and our gathering and processing projects, where first-full-year multiples are more favorable but the earnings are more uneven than with our other business segments. We expect the remaining $7.5 billion of projects in the backlog, when re

2024
Q4

Q4 2024 Earnings

8-K

Jan 22, 2025

0001506307-25-000002

EX-99.1

2 kmi2024q48-kex991.htm

EX-99.1

Document

Exhibit 99.1

KINDER MORGAN REPORTS FOURTH QUARTER 2024

FINANCIAL RESULTS

Earnings per Share (EPS) up 11% and Adjusted EPS up 14%

Announces $1.7 billion Trident Intrastate Pipeline Project

HOUSTON, January 22, 2025 - Kinder Morgan, Inc.’s (NYSE: KMI) board of directors today approved a cash dividend of $0.2875 per share for the fourth quarter ($1.15 annualized), payable on February 18, 2025, to stockholders of record as of the close of business on February 3, 2025. This dividend is a 2% increase over the fourth quarter of 2023.

KMI is reporting:

•Fourth quarter earnings per share (EPS) of $0.30, up 11% compared to the fourth quarter of 2023 and Adjusted EPS of $0.32, up 14% compared to the fourth quarter of 2023.

•Net income attributable to KMI of $667 million, compared to $594 million in the fourth quarter of 2023.

•Adjusted EBITDA of $2,063 million, up 7% versus the fourth quarter of 2023.

“The company enjoyed another exceptional quarter, with very strong operational and financial performance. We continued to internally fund high-quality capital projects while generating cash flow from operations of $1.5 billion and $0.7 billion in free cash flow (FCF) after capital expenditures. With robust market fundamentals and a new Administration committed to expediting energy infrastructure projects, the future looks bright,” said Executive Chairman Richard D. Kinder.

“KMI had a very strong fourth quarter on increased financial contributions from our Natural Gas Pipelines, Products Pipelines and Terminals business segments, with Adjusted EBITDA up 7% versus the fourth quarter of 2023. Our balance sheet remains healthy, as we ended the year with a Net Debt-to-Adjusted EBITDA ratio of 4.0 times,” said Chief Executive Officer Kim Dang.

“We are also today announcing the Trident Intrastate Pipeline Project, an approximately 216-mile pipeline build underpinned by long-term contracts that will provide approximately 1.5 billion cubic feet per day (Bcf/d) of capacity from Katy, Texas to the LNG and industrial corridor near Port Arthur, Texas,” continued Dang.

“Further, during the quarter we secured additional long-term, binding transportation agreements on our previously announced Mississippi Crossing Project, resulting in a current project subscription of approximately 1.8 Bcf/d. The estimated $1.6 billion project is now designed to transport up to 2.1 Bcf/d of natural gas through the construction of nearly 206 miles of 42-inch and 36-inch pipeline and three new compressor stations.

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“For several quarters now, we have pointed to expected significant new natural gas demand for LNG, power plants, and emerging opportunities such as artificial intelligence operations, cryptocurrency mining, data centers and industrial re-shoring. These expectations are being realized. Our commercial teams have secured contracts to underpin three large natural gas projects - South System Expansion 4, Mississippi Crossing and Trident, totaling approximately $5 billion (KM share) in project costs. These projects are all progressing and are expected to contribute to significant future growth once in service,” said Dang.

“Our project backlog also reflects this strong natural gas demand. At the end of the fourth quarter of 2024, the backlog stood at $8.1 billion, a nearly 60% increase compared to $5.1 billion in the third quarter of 2024. Natural gas projects account for approximately 89% of the backlog. In calculating backlog Project EBITDA multiples, we exclude both the capital and EBITDA from our CO2 enhanced oil recovery projects and our gathering and processing projects, where first full year multiples are more favorable but the earnings are more uneven than with our other business segments. We expect the remaining $7.0 billion of projects in the backlog, when realized, to generate an aggregate first full year Project EBITDA multiple of approximately 5.8 times (up 0.4 times versus the previous quarter).

2025 Outlook

For 2025, KMI budgeted net income attributable to KMI of $2.8 billion, up 8% versus 2024 and Adjusted EPS of $1.27, up 10% from 2024. KMI expects to declare dividends of $1.17 per share for 2025, a 2% increase from the dividends declared for 2024. The company also budgeted 2025 Adjusted EBITDA of $8.3 billion, up 4% versus 2024, and to end 2025 with a Net Debt-to-Adjusted EBITDA ratio of 3.8 times. These amounts do not include contributions from the Outrigger Energy II acquisition discussed below.

The budget assumes average annual prices for West Texas Intermediate (WTI) crude oil and Henry Hub natural gas of $68 per barrel and $3.00 per million British thermal units (MMBtu), respectively, consistent with the published forward curve available during the company’s annual budget process.

We plan to publish our annual outlook and budget presentation, which will provide more detail on our 2025 budget, to KMI’s website at: https://ir.kindermorgan.com/events-and-pr

2024
Q3

Q3 2024 Earnings

8-K

Oct 16, 2024

0001506307-24-000117

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Exhibit 99.1

KINDER MORGAN REPORTS THIRD QUARTER 2024

FINANCIAL RESULTS

Final Investment Decision Reached for Gulf Coast Express Pipeline Expansion

Earnings per Share (EPS) up 17% Compared to Third Quarter 2023

Adjusted EPS flat to Third Quarter 2023

HOUSTON, October 16, 2024 - Kinder Morgan, Inc.’s (NYSE: KMI) board of directors today approved a cash dividend of $0.2875 per share for the third quarter ($1.15 annualized), payable on November 15, 2024 to stockholders of record as of the close of business on October 31, 2024. This dividend is a 2% increase over the third quarter of 2023.

The company is reporting:

•Third quarter earnings per share (EPS) of $0.28, up 17% compared to the third quarter of 2023, Adjusted EPS of $0.25, flat to the third quarter of 2023 and distributable cash flow (DCF) per share of $0.49, flat to the third quarter of 2023.

•Net income attributable to KMI of $625 million, compared to $532 million in the third quarter of 2023.

•Adjusted EBITDA of $1,880 million, up 2% from $1,835 million in the third quarter of 2023.

“With war continuing in Ukraine and conflict escalating in the Middle East, the centrality of energy security to national security has never been more clear. We are proud to be part of a sector that provides that energy security to our fellow citizens, and increasingly allows allies to forego dependence on those who use energy as a geopolitical weapon,” said Executive Chairman Richard D. Kinder.

“As for our company, we enjoyed another solid quarter of strong operational and financial performance. We continued to internally fund high-quality capital projects while generating cash flow from operations of $1.2 billion, and $0.6 billion in free cash flow (FCF) after capital expenditures. With substantial projected increases in natural gas demand both domestically and globally in the coming decades, we have many opportunities on the horizon,” Kinder concluded.

“The company had a solid third quarter on increased financial contributions from our Natural Gas Pipelines and Terminals business segments, with Adjusted EBITDA up 2% versus the third quarter of 2023,” said Chief Executive Officer Kim Dang.

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“Further, KMI’s balance sheet remains very strong, as we ended the quarter with a Net Debt-to-Adjusted EBITDA ratio of 4.1 times,” continued Dang.

“We advanced a number of exciting projects during the quarter, including finalizing the investment decision with respect to a $455 million expansion on the Gulf Coast Express Pipeline that will increase natural gas deliveries by 570 million cubic feet per day (MMcf/d) from the Permian Basin to South Texas markets. We are also developing an NGPL Gulf Coast Storage Expansion project that will provide approximately 10 billion cubic feet (Bcf) of incremental natural gas storage capacity on NGPL’s high-growth Gulf Coast system. Storage assets have never been in greater demand to help smooth the intermittency of renewable resources on the electric grid and to provide balancing services to the growing LNG market,” Dang continued.

“Discussions around opportunities related to significant new natural gas demand for electric generation associated with coal conversions at power plants, artificial intelligence operations, cryptocurrency mining, data centers and industrial re-shoring also continued during the quarter, and we now see an opportunity set well in excess of 5 Bcf/d in that area,” said Dang.

“Our project backlog at the end of the third quarter was $5.1 billion versus $5.2 billion in the second quarter of 2024. Holding our backlog nearly flat is notable given that we put $484 million of projects into service during the quarter. In calculating backlog Project EBITDA multiples, we exclude both the capital and EBITDA from our CO2 enhanced oil recovery projects and gathering and processing (G&P) projects, where the earnings are more uneven than with our other business segments. To compensate for those uneven earnings profiles, we require higher return thresholds for those projects. We expect the remaining $3.8 billion of projects in the backlog (flat to last quarter) to generate an average Project EBITDA multiple of approximately 5.4 times (as in the previous quarter).

“We are devoting approximately 86% of our project backlog to lower-carbon energy investments, including 83% to conventional natural gas, and the remainder to renewable natural gas (RNG), renewable diesel (RD), feedstocks associated with RD and sustainable aviation fuel (SAF), as well as carbon capture and sequestration,” Dang concluded.

2024 Outlook

For 2024, including contributions from the acquired STX Midstream assets, KMI budgeted net income attributable to KMI of $2.7 billion ($1.22 per share), up 15% versus 2023, and expects to declare dividends of $1.15 per share for 2024, a 2% increase from the dividends declared for 2023. The company also budgeted 2024 DCF of $5 billion ($2.26 per share), Adjusted

2024
Q2

Q2 2024 Earnings

8-K

Jul 17, 2024

0001506307-24-000051

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Exhibit 99.1

KINDER MORGAN REPORTS SECOND QUARTER 2024 FINANCIAL RESULTS

Approves Cash Dividend of $0.2875 Per Share ($1.15 Annualized)

Earnings per Share Flat to Second Quarter 2023; Adjusted Earnings per Share Up 4%

HOUSTON, July 17, 2024 - Kinder Morgan, Inc.’s (NYSE: KMI) board of directors today approved a cash dividend of $0.2875 per share for the second quarter ($1.15 annualized), payable on August 15, 2024 to stockholders of record as of the close of business on July 31, 2024. This dividend is a 2% increase over the second quarter of 2023.

The company is reporting:

•Second quarter earnings per share (EPS) of $0.26 and distributable cash flow (DCF) per share of $0.49, flat and up 2%, respectively, compared to the second quarter of 2023.

•Net income attributable to KMI of $575 million, compared to $586 million in the second quarter of 2023.

•DCF of $1,100 million for the quarter, compared to $1,076 million in the second quarter of 2023.

“In the second quarter we enjoyed another solid quarter of strong operational and financial performance. We continued to internally fund high-quality capital projects while generating cash flow from operations of $1.7 billion and $1.1 billion in free cash flow (FCF) after capital expenditures. In addition, we were pleased to welcome Amy Chronis to her first KMI board of directors meeting. I am thrilled to have Amy join our talented board as we look forward to gaining the benefit of her financial acumen and robust knowledge of the energy industry,” said Executive Chairman Richard D. Kinder.

“As a leader in the midstream sector with an extensive, interconnected network of fee-based assets in the energy infrastructure space, we are proud to play a significant role in maintaining energy security for the United States. Furthermore, through our large and growing support to the liquified natural gas (LNG) sector, including our own export facility at Elba Island, we are also playing a key role in providing energy security to countries around the world,” Kinder concluded.

“The company had a solid second quarter on increased financial contributions from our Natural Gas Pipelines, Products Pipelines and Terminals business segments, with Adjusted EBITDA up 3% versus the second quarter of 2023,” said Chief Executive Officer Kim Dang.

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“KMI’s balance sheet remains very strong, as we ended the quarter with a Net Debt-to-Adjusted EBITDA ratio of 4.1 times,” continued Dang.

“Notwithstanding the current low-price environment for natural gas, the future looks very bright for our Natural Gas Pipelines business segment. As I noted last quarter, we expect demand for natural gas to grow substantially between now and 2030, led by more than a doubling of demand for LNG exports and an almost 50% increase in natural gas exports to Mexico. We are also anticipating significant new natural gas demand for electric generation associated with artificial intelligence operations, cryptocurrency mining, data centers and industrial re-shoring, which would be additive to the growth discussed above,” continued Dang. “One example of opportunities to meet this demand growth is our announcement today of a successful binding open season on the proposed South System Expansion 4 Project designed to increase Southern Natural Gas (SNG) Pipeline’s South Line capacity by approximately 1.2 billion cubic feet per day (Bcf/d). Once completed following receipt of all required approvals, the project will help meet growing power generation and local distribution company demand in the Southeast markets.

“Our project backlog at the end of the second quarter was $5.2 billion, up from $3.3 billion in the first quarter of 2024. In calculating backlog Project EBITDA multiples, we exclude both the capital and EBITDA from our CO2 enhanced oil recovery projects and our gathering and processing (G&P) projects, where the earnings are more uneven than with our other business segments. To compensate for those uneven earnings profiles, we require higher return thresholds for those projects. We expect the remaining $3.8 billion of projects in the backlog to generate an average Project EBITDA multiple of approximately 5.4 times.

“We are devoting approximately 80% of our project backlog to lower-carbon energy investments, including conventional natural gas, renewable natural gas (RNG), renewable diesel (RD), feedstocks associated with RD and sustainable aviation fuel (SAF), as well as carbon capture and sequestration,” Dang concluded.

2024 Outlook

For 2024, including contributions from the acquired STX Midstream assets, KMI budgeted net income attributable to KMI of $2.7 billion ($1.22 per share), up 15% versus 2023, and expects to declare dividends of $1.15 per share for 2024, a 2% increase from the dividends declared for 2023. The company also budgeted 2024 DCF of $5 billion ($2.26 per share), and Adjusted EBITDA of $8.16 billion, both up 8% versus 2023, a

2024
Q1

Q1 2024 Earnings

8-K

Apr 17, 2024

0001506307-24-000029

EX-99.1

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Document

Exhibit 99.1

KINDER MORGAN REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS

Earnings per Share up 10%; Adjusted Earnings per Share up 13%

Approves Cash Dividend of $0.2875 Per Share ($1.15 Annualized)

HOUSTON, April 17, 2024 - Kinder Morgan, Inc.’s (NYSE: KMI) board of directors today approved a cash dividend of $0.2875 per share for the first quarter ($1.15 annualized), payable on May 15, 2024, to stockholders of record as of the close of business on April 30, 2024. This dividend is a 2% increase over the first quarter of 2023.

The company is reporting:

•First quarter earnings per share (EPS) of $0.33 and distributable cash flow (DCF) per share of $0.64, up 10% and 5%, respectively, compared to the first quarter of 2023.

•Net income attributable to KMI of $746 million, compared to $679 million in the first quarter of 2023.

•DCF of $1,422 million for the quarter, compared to $1,374 million in the first quarter of 2023.

“The ongoing war in Ukraine and conflict in the Middle East have served to highlight to policy makers and the public at large the crucial role energy plays on the global stage. It has often been said that energy security is national security. Clearly the delivery of energy by companies located in stable countries that respect the rule of law is more important now than ever. We are proud to be one such company and are committed to serving our customers for many years to come,” said Executive Chairman Richard D. Kinder.

“Kinder Morgan has throughout our history been a leader in the midstream sector, developing an extensive, interconnected network of fee-based assets in the energy infrastructure space, and now with a growing footprint in the energy transition. The dividend declared this quarter represents the seventh consecutive year in which we have increased the dividend. In the first quarter we continued to internally fund high-quality capital projects while generating cash flow from operations of $1.2 billion and $570 million in free cash flow after capital expenditures,” Kinder concluded.

“The company got off to a strong start this quarter on increased financial contributions from our Natural Gas Pipelines, Products Pipelines and Terminals business segments, with Net income attributable to KMI up 10% and Adjusted EBITDA up 7% versus the first quarter of 2023,” said Chief Executive Officer Kim Dang.

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“KMI’s balance sheet is strong, as we ended the quarter with a Net Debt-to-Adjusted EBITDA ratio of 4.1 times,” continued Dang.

“Notwithstanding the current low natural gas price environment, the future looks very bright for our Natural Gas Pipelines business segment. We expect demand for natural gas to grow substantially between now and 2030, led by more than a doubling of demand for liquefied natural gas (LNG) exports and a more than 50% increase in exports to Mexico. We are also anticipating significant new natural gas demand for electric generation associated with artificial intelligence operations, crypto currency mining and data centers, which would be additive to the growth discussed above,” continued Dang. “It’s also important to note that the Biden Administration’s ‘pause’ in approving LNG exports to non-Free Trade Agreement countries, while disappointing, will likely have no impact on our planned projects to support LNG exports.”

“Our project backlog at the end of the first quarter was $3.3 billion, up from $3 billion at year-end 2023. In calculating backlog Project EBITDA multiples, we exclude both the capital and EBITDA from CO2 enhanced oil recovery projects and our gathering and processing projects, where the earnings are more uneven than with our other business segments. To compensate for those uneven earnings profiles we require higher return thresholds for those projects. We expect the remaining $2 billion of projects in the backlog to generate an average Project EBITDA multiple of under 5.0 times.

“We are devoting nearly 80% of our project backlog to lower-carbon energy investments, including natural gas, renewable natural gas (RNG), renewable diesel (RD), feedstocks associated with RD and sustainable aviation fuel, as well as carbon capture and sequestration,” Dang concluded.

2024 Outlook

For 2024, including contributions from the acquired STX Midstream assets, KMI budgeted net income attributable to KMI of $2.7 billion ($1.22 per share), up 15% versus 2023, and expects to declare dividends of $1.15 per share for 2024, a 2% increase from the dividends declared for 2023. The company also budgeted 2024 DCF of $5 billion ($2.26 per share), and Adjusted EBITDA of $8.16 billion, both up 8% versus 2023, and to end 2024 with a Net Debt-to-Adjusted EBITDA ratio of 3.9 times.

The budget assumes average annual prices for West Texas Intermediate (WTI) crude oil and Henry Hub natural gas of $82 per barrel and $3.50 per million British thermal unit (MMBtu), respectively, consistent with the forward curve extant

2023
Q4

Q4 2023 Earnings

8-K

Jan 17, 2024

0001506307-24-000004

EX-99.1

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Exhibit 99.1

KINDER MORGAN REPORTS FOURTH QUARTER 2023 FINANCIAL RESULTS

Raises 2024 Financial Guidance to Include Acquisition;

Approves Cash Dividend of $0.2825 Per Share ($1.13 Annualized)

HOUSTON, January 17, 2024 - Kinder Morgan, Inc.’s (NYSE: KMI) board of directors today approved a cash dividend of $0.2825 per share for the fourth quarter ($1.13 annualized), payable on February 15, 2024, to stockholders of record as of the close of business on January 31, 2024. This dividend is a 2% increase over the fourth quarter of 2022.

The company is reporting:

•Fourth quarter earnings per share (EPS) of $0.27 and distributable cash flow (DCF) per share of $0.52, down 10% and 4%, respectively, compared to the fourth quarter of 2022.

•Net income attributable to KMI of $594 million, compared to $670 million in the fourth quarter of 2022.

•DCF of $1,171 million compared to $1,217 million in the fourth quarter of 2022.

•Adjusted Earnings of $633 million for the quarter versus $708 million in the fourth quarter of 2022.

The decreases versus fourth quarter 2022 are largely related to increased interest expense which was anticipated in the company’s 2023 budget guidance. The company finished the year slightly behind its budget primarily due to lower commodity prices.

KMI ended the quarter with a Net Debt-to-Adjusted EBITDA ratio of 4.2, even with its $1.8 billion STX Midstream acquisition closing just before year end. Our leverage ratio would be lower with a full-year contribution of Adjusted EBITDA from the acquired assets.

“As we continue to implement a business model that relies on stable, fee-based assets in the energy infrastructure space, we generated substantial cash in 2023, with net income of $2.4 billion and Adjusted EBITDA of $7.6 billion for the year,” said Executive Chairman Richard D. Kinder.

“The company consistently exercises disciplined capital allocation based on conservative assumptions with high return thresholds while maintaining a strong balance sheet. At the same time, we are making prudent investments in the energy transition,” continued Kinder.

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“Our commitment to returning value to shareholders is unwavering, as we have internally funded capital projects and pay a healthy and growing dividend with robust coverage of $540 million in the fourth quarter. In 2023, we further returned additional value to shareholders by repurchasing more than 31.5 million of our shares for approximately $522 million,” Kinder concluded.

“This quarter we expeditiously closed a major acquisition of STX Midstream for $1.8 billion. Those assets fit nicely into our existing Texas Intrastate system serving Gulf Coast and Mexico demand markets. We also continued to execute on expansion projects in all of our business segments, most notably our Natural Gas Pipelines business segment, where four major projects were placed in service during the quarter and another four are underway,” said Chief Executive Officer Kim Dang.

“Our Products Pipelines business segment completed two projects that added 17,500 barrels per day (Bbl/d) of renewable diesel (RD) throughput capacity in Northern California and an additional 178,000 barrels of RD storage capacity in Southern California. And our Energy Transition Ventures group put the Prairie View landfill renewable natural gas (RNG) facility into service, bringing our total RNG generation capacity to 6.1 billion cubic feet (Bcf) per year,” Dang said.

“Financial contributions from the Products Pipelines business segment and our Terminals business segment were up relative to the fourth quarter of 2022, while the Natural Gas Pipelines and our CO2 business segments were down by a similar amount. EPS and DCF per share for the quarter were down compared to the fourth quarter of 2022 due to higher interest expense. Both EPS and DCF per share benefited from share repurchases.

“KMI’s balance sheet is strong, as we ended the year with a Net Debt-to-Adjusted EBITDA ratio of 4.2 times. This is especially noteworthy given that we executed approximately $522 million in unbudgeted, opportunistic share repurchases during the year and closed on the STX Midstream assets in December,” continued Dang.

“Our project backlog at the end of the fourth quarter was $3 billion, down from $3.8 billion in the third quarter due to the completion of multiple large projects including Tennessee Gas Pipeline’s (TGP) East 300 line upgrade, the Permian Highway Pipeline (PHP) expansion project and our Texas Intrastates’ Freer to Sinton project. In calculating backlog Project EBITDA multiples, we exclude both the capital and EBITDA from the CO2 business segment and our gathering and processing projects, where the earnings are more uneven than with our other business segments. To compensate for those uneven earnings profiles we require higher return thresholds for those projects. We expect the remaining $1.9 billion of projects in the backlog to

2023
Q3

Q3 2023 Earnings

8-K

Oct 18, 2023

0001506307-23-000116

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Exhibit 99.1

KINDER MORGAN REPORTS THIRD QUARTER 2023 FINANCIAL RESULTS

Approves Cash Dividend of $0.2825 Per Share ($1.13 Annualized)

Sees Strong Performance Across its Portfolio of Assets

HOUSTON, October 18, 2023 - Kinder Morgan, Inc.’s (NYSE: KMI) board of directors today approved a cash dividend of $0.2825 per share for the third quarter ($1.13 annualized), payable on November 15, 2023, to stockholders of record as of the close of business on October 31, 2023. This dividend is a 2% increase over the third quarter of 2022.

The company is reporting:

•Third quarter earnings per share (EPS) of $0.24 was down slightly and distributable cash flow (DCF) per share of $0.49 was flat to the third quarter of 2022.

•Net income attributable to KMI of $532 million, compared to $576 million in the third quarter of 2022.

•Distributable cash flow (DCF) of $1,094 million, compared to $1,122 million in the third quarter of 2022.

•Adjusted Earnings of $562 million for the quarter, versus $575 million in the third quarter of 2022

KMI ended the quarter with a Net Debt-to-Adjusted EBITDA ratio of 4.1, in line with its year-end goal.

“During the quarter the company experienced the second management succession in its history, but our time-tested strategy remains the same,” said Executive Chairman Richard D. Kinder.

“We return value to shareholders while maintaining a strong balance sheet. We internally fund capital projects that produce returns well in excess of our cost of capital — including high-grade projects that are part of the ongoing energy evolution toward a lower carbon future.

“We pay a healthy and growing dividend with robust coverage. Our current dividend and stock price place the company in the top 5% for yield in the S&P 500. We further returned value to shareholders by continuing the opportunistic repurchasing of our shares, totaling more than 28 million repurchased shares for approximately $472 million so far this year,” Kinder concluded.

“This quarter KMI continued to benefit from strong demand for our natural gas transportation and storage services,” said Chief Executive Officer Kim Dang. “And the future is bright as we

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expect natural gas demand to grow by more than 20% through 2028, led by liquefied natural gas (LNG) exports, exports to Mexico and power generation. Our network of interconnected assets is ideally located to serve those export markets, and our 700 billion cubic feet (Bcf) of operated natural gas storage capacity and nationwide pipeline network is particularly useful in backstopping intermittent renewable electricity resources.

“Our portfolio of assets performed very well during the quarter, as financial contributions from the Natural Gas Pipeline business segment, the Products Pipelines business segment and our Terminals business segment were all up relative to the third quarter of 2022.

“Our growing project backlog includes capital-efficient expansions of our existing natural gas pipeline and storage systems. We continued working to add approximately 550 million cubic feet per day (MMcf/d) of capacity to the Permian Highway Pipeline (PHP) system. We also continued construction on an expansion project at our Markham Storage facility along the Texas Gulf Coast, where we will be adding more than 6 Bcf of incremental working gas storage capacity,” Dang continued.

“EPS for the quarter was down slightly compared to the third quarter of 2022 due to higher interest expense, while DCF per share was flat to the third quarter of 2022. In addition to higher interest expense, DCF was also impacted by higher sustaining capital expenditures versus the prior year period. Both EPS and DCF per share benefited from share repurchases.

“KMI’s balance sheet is strong, as we ended the third quarter with a Net Debt-to-Adjusted EBITDA ratio of 4.1 times, in line with our budget and well below our long-term target of approximately 4.5 times. This is especially noteworthy given that we executed approximately $470 million in unbudgeted, opportunistic share repurchases year to date,” continued Dang.

“Our project backlog at the end of the third quarter was $3.8 billion, up from $3.7 billion in the second quarter. In calculating backlog Project EBITDA multiples, we exclude both the capital and EBITDA from the CO2 business segment and our gathering and processing projects, where the earnings are more uneven than with our other business segments. To compensate for that we require higher return thresholds for those projects. We expect the remaining $2.7 billion of projects in the backlog to generate an average Project EBITDA multiple of approximately 4.7 times.

“With continued strong emphasis on our base business, we are also devoting roughly 84% of our project backlog to lower-carbon energy investments, versus 80% in the second quarter, including natural gas as a substitute for higher emitting fuels, producer certified natural gas, rene

2023
Q2

Q2 2023 Earnings

8-K

Jul 19, 2023

0001506307-23-000058

EX-99.1

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Exhibit 99.1

KINDER MORGAN REPORTS SECOND QUARTER 2023 FINANCIAL RESULTS

Beats Budget for the Second Quarter, Returns Value to Shareholders and Maintains Healthy Balance Sheet

HOUSTON, July 19, 2023 - Kinder Morgan, Inc.’s (NYSE: KMI) board of directors today approved a cash dividend of $0.2825 per share for the second quarter ($1.13 annualized), payable on August 15, 2023, to stockholders of record as of the close of business on July 31, 2023. This dividend is a 2% increase over the second quarter of 2022.

The company is reporting second quarter net income attributable to KMI of $586 million, compared to $635 million in the second quarter of 2022 and distributable cash flow (DCF) of $1,076 million, compared to $1,176 million in the second quarter of 2022. Adjusted Earnings were $540 million for the quarter, versus $621 million in the second quarter of 2022. Adjusted EBITDA and DCF for the quarter were both above our 2023 plan.

“As we reiterate every quarter, the KMI board and management team are fully committed to the use of our strong cash flow to benefit our shareholders,” said Executive Chairman Richard D. Kinder. “We focus on maintaining a strong balance sheet while internally funding capital projects that produce returns well in excess of our cost of capital — including projects that are part of the ongoing energy evolution toward a lower carbon future. We also continue to pay a healthy and growing dividend which, based on our current stock price, results in a top 10 yield in the S&P 500 with robust coverage. Finally, we have continued the opportunistic repurchasing of our shares, totaling almost 20 million repurchased shares for approximately $330 million so far this year.”

“KMI once again saw the value of its existing natural gas transportation and storage assets that are able to respond to volatile market conditions caused by extreme weather events and an increasingly intermittent resource-based electric grid,” said Chief Executive Officer Steve Kean. “Our 700 billion cubic feet (Bcf) of operated natural gas storage capacity is particularly useful in backstopping intermittent renewable electricity resources. Financial contributions from the Natural Gas Pipeline business segment were up relative to the second quarter of 2022 and ahead of budget. Our Terminals business segment also over performed relative to both the second quarter of 2022 and budget.

“We are executing on capital-efficient expansions of our existing natural gas pipeline and storage systems. We continued working to add approximately 550 million cubic feet per day (MMcf/d)

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of capacity to the Permian Highway Pipeline (PHP) system. We also began construction on an expansion project at our Markham Storage facility along the Texas Gulf Coast, where we will be adding more than 6 Bcf of incremental working gas storage capacity.”

“In the face of lower commodity prices and higher interest expense versus the second quarter of 2022, the company generated earnings per share of $0.26, DCF per share of $0.48 and robust excess coverage of our dividend. Significantly, both Adjusted EBITDA and DCF for the quarter were above our 2023 plan,” said KMI President Kim Dang.

“Earnings per share for the quarter were down 7%. DCF per share was down 8% as compared to the second quarter of 2022. In addition to lower commodity prices and higher interest expense, DCF was also impacted by higher sustaining capital expenditures versus the prior year period. Excluding the impact of lower commodity prices and higher interest expense, our performance would have been favorable to the prior year period.

“KMI’s balance sheet is strong, as we ended the second quarter with a Net Debt-to-Adjusted EBITDA ratio of 4.1 times, in line with our budget and well below our long-term target of approximately 4.5 times. This is especially noteworthy given that we executed approximately $200 million in unbudgeted, opportunistic share repurchases during the quarter,” continued Dang.

“Our project backlog at the end of the second quarter was $3.7 billion, flat to the first quarter. In calculating backlog Project EBITDA, we exclude the CO2 business segment, where there is more variability to earnings than our other business segments, but higher return thresholds to compensate. We have also adjusted the calculation this quarter to exclude gathering and processing projects due to the similarly uneven earnings associated with those projects. This exclusion has the effect of increasing our backlog multiple compared to what has previously been reported. We expect the remaining $2.6 billion in projects in the backlog to generate an average Project EBITDA multiple of approximately 4.2 times, which compares to a multiple of 3.9 times calculated on the same basis for the prior quarter.

“With continued strong emphasis on our base business, we are also devoting roughly 80% of our project backlog to lower-carbon energ

2023
Q1

Q1 2023 Earnings

8-K

Apr 19, 2023

0001506307-23-000034

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Exhibit 99.1

KINDER MORGAN REPORTS FIRST QUARTER 2023 FINANCIAL RESULTS

Increases Dividend For Sixth Consecutive Year

HOUSTON, April 19, 2023 - Kinder Morgan, Inc.’s (NYSE: KMI) board of directors today approved a cash dividend of $0.2825 per share for the first quarter ($1.13 annualized), payable on May 15, 2023, to stockholders of record as of the close of business on May 1, 2023. This dividend is a 2% increase over the first quarter of 2022.

The company is reporting first quarter net income attributable to KMI of $679 million, compared to $667 million in the first quarter of 2022; and distributable cash flow (DCF) of $1,374 million, compared to $1,455 million in the first quarter of 2022. Adjusted Earnings were $675 million for the quarter, versus $732 million in the first quarter of 2022.

“For the sixth year in a row, we are very pleased to announce another increase in the dividend we provide our shareholders,” said Executive Chairman Richard D. Kinder. “Shareholders continue to benefit from our long-standing corporate strategy: maintaining a strong investment-grade balance sheet, internally funding expansion opportunities, paying an attractive and growing dividend, and further returning value by repurchasing our shares on an opportunistic basis. In addition to increasing the dividend this quarter, the company repurchased approximately 6.8 million shares for $113 million at an average price of $16.62 per share.”

“Our extensive and interconnected network continued to generate strong earnings this quarter, particularly in our Natural Gas Pipelines and Terminals business segments,” said Chief Executive Officer Steve Kean. “Our natural gas pipeline network is composed of some 70,000 miles of interstate and intrastate pipelines that move about 40% of U.S. natural gas production, along with 700 billion cubic feet (Bcf) of natural gas storage, comprising 15% of total U.S. natural gas storage capacity.

“While the U.S. Congress debates much-needed infrastructure permitting reform, the system we operate under today makes it difficult to permit new natural gas pipelines in much of the country. That in turn increases the value of our existing natural gas pipeline systems, which results in a favorable recontracting environment,” continued Kean. “With a large portion of our existing natural gas pipeline network in Texas and Louisiana, we also benefit from our ability to expand to meet growing demand in the most infrastructure-friendly region of the country. In addition, our Products Pipelines and Terminals business segments benefit from built-in escalators in their tariffs and contracts.

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“We are also continuing to execute on capital-efficient expansions of our existing natural gas pipeline systems. This quarter we made good progress on two such expansions. One will add approximately 550 million cubic feet per day (MMcf/d) of capacity to the Permian Highway Pipeline (PHP) system through additional compression with minimal new pipeline build. The other will increase capacity and reliability of services to Con Edison, a key business partner, by upgrading and adding compression facilities on the Tennessee Gas Pipeline (TGP) system in a critical region of the country.

“The company started the year strong, generating robust earnings and solid coverage of this quarter’s increased dividend. We generated earnings per share of $0.30 and DCF per share of $0.61,” said KMI President Kim Dang. “Despite higher interest expense versus the first quarter of 2022, earnings per share for the quarter were up 3%. DCF per share was down 5% as compared to the first quarter of 2022. In addition to higher interest expense, DCF was also impacted by higher sustaining capital expenditures versus the prior year period.

“KMI’s balance sheet is strong, as we ended the first quarter with a Net Debt-to-Adjusted EBITDA ratio of 4.1 times, well below our target of approximately 4.5 times. Our project backlog at the end of the first quarter was $3.7 billion, up $400 million versus the fourth quarter of 2022. The most significant additions were $324 million in interstate natural gas pipeline expansion projects, including a project on the TGP system to assist a customer in retiring a coal-fired power generation facility. Excluding the CO2 business segment, where we have higher return thresholds than our other projects, we expect the remaining $3.3 billion in projects in the backlog to generate an average Project EBITDA multiple of approximately 3.5 times.

“With continued strong emphasis on our base business, we are also devoting roughly 86% of our project backlog to lower-carbon energy services, including natural gas as a substitute for higher emitting fuels, producer certified natural gas, renewable natural gas (RNG), renewable diesel (RD), and feedstocks associated with RD and sustainable aviation fuel,” continued Dang. “During the quarter, we made excellent progress on se

2022
Q4

Q4 2022 Earnings

8-K

Jan 18, 2023

0001506307-23-000002

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Exhibit 99.1

KINDER MORGAN REPORTS FOURTH QUARTER EARNINGS PER SHARE UP 7% AND DISTRIBUTABLE CASH FLOW PER SHARE UP 13% VERSUS THE FOURTH QUARTER OF 2021

Kinder Morgan Board Authorizes $1 Billion Increase in Share Repurchase Program;

Management Announces Succession Plans

HOUSTON, January 18, 2023 - Kinder Morgan, Inc.’s (NYSE: KMI) board of directors today approved a cash dividend of $0.2775 per share for the fourth quarter ($1.11 annualized), payable on February 15, 2023, to stockholders of record as of the close of business on January 31, 2023. This dividend is a 3% increase over the fourth quarter of 2021.

The company is reporting fourth quarter net income attributable to KMI of $670 million, compared to net income attributable to KMI of $637 million in the fourth quarter of 2021; and distributable cash flow (DCF) of $1,217 million, compared to $1,093 million in the fourth quarter of 2021. Adjusted Earnings were $708 million for the quarter, versus $609 million in the fourth quarter of 2021.

“Our company closed out the year with another strong quarter,” said Executive Chairman Richard D. Kinder. “We generated robust earnings and strong coverage of this quarter’s dividend. Company shareholders continue to benefit from our capital-efficient business model that delivers on our time-tested goals: maintain a strong investment-grade balance sheet, internally fund expansion opportunities, pay an attractive and growing dividend, and further reward our shareholders by repurchasing our shares on an opportunistic basis.”

“Our people, assets and systems performed very well this quarter, especially given the volatile weather and pricing we experienced late in the quarter,” said Chief Executive Officer Steve Kean. “Our Natural Gas Pipelines segment performed well above plan for the quarter, as did our CO2 segment, which benefited from continued high commodity prices.

“Heightened concerns about energy security this year cast a spotlight on the U.S. liquefied natural gas (LNG) export sector. Our own and independent analysts project that demand from LNG facilities is expected to double in the coming years, and we are moving forward with projects to provide additional transport capacity for that growing market,” continued Kean. “With a large portion of our existing network in Texas and Louisiana — where nearly all of that LNG demand growth is expected to occur — we expect to largely serve that growth with highly capital-efficient expansions on our existing network.

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“Domestically, our customers are increasingly benefiting from the high deliverability inherent in our extensive interconnected natural gas network, especially the industry-leading storage services we offer from our 700 billion cubic feet (Bcf) of working natural gas storage capacity,” continued Kean. “The need for those flexible deliverability services will continue to grow in the face of extreme weather events and as intermittent renewable energy resources continue to expand their share in the power sector.

“KMI’s future is bright. The assets we operate and the services we provide will be needed for a long time to come. And many of our employees are now actively helping to shape a lower- carbon energy future, with roughly 80% of our project backlog in lower-carbon energy services, including natural gas as a substitute for higher emitting fuels, producer certified natural gas, renewable natural gas, renewable diesel, and feedstocks associated with renewable diesel and sustainable aviation fuel,” Kean concluded.

“Our financial performance during the quarter was strong, as we generated earnings per share of $0.30 and DCF per share of $0.54,” said KMI President Kim Dang. “Earnings per share for the quarter were up 7% and DCF per share was up 13% as compared to the fourth quarter of 2021. We generated $590 million of excess DCF above our declared dividend during the quarter.

“During the quarter, we combined strong performance within our base business with exciting new developments supporting the transition to lower carbon energy sources,” continued Dang. “Our Terminals business segment is growing its industry-leading renewable diesel and sustainable aviation fuel feedstock storage and logistics offering in support of a customer’s expansion of its nearby renewable diesel plant. We continue to make good progress on the three Kinetrex Energy renewable natural gas facilities, all of which are on track to be placed in service in 2023. And we expect to move forward with our first carbon capture and sequestration project with our joint venture Red Cedar Gathering Company. As Steve noted, our future is bright.”

For the full year of 2022, the company reported net income attributable to KMI of $2,548 million, compared to $1,784 million for the full year of 2021 and DCF of $4,970 million, down 9% from $5,460 million for the comparable period in 2021. Net income is up in 2022 in part due to a no

2022
Q3

Q3 2022 Earnings

8-K

Oct 19, 2022

0001506307-22-000105

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Exhibit 99.1

KINDER MORGAN REPORTS THIRD QUARTER EARNINGS PER SHARE UP 14% AND DISTRIBUTABLE CASH FLOW PER SHARE UP 11% VERSUS THE THIRD QUARTER OF 2021

HOUSTON, October 19, 2022 - Kinder Morgan, Inc.’s (NYSE: KMI) board of directors today approved a cash dividend of $0.2775 per share for the third quarter ($1.11 annualized), payable on November 15, 2022, to stockholders of record as of the close of business on October 31, 2022. This dividend is a 3% increase over the third quarter of 2021.

The company is reporting third quarter net income attributable to KMI of $576 million, compared to net income attributable to KMI of $495 million in the third quarter of 2021; and distributable cash flow (DCF) of $1,122 million, compared to $1,013 million in the third quarter of 2021. Adjusted Earnings were $575 million for the quarter, versus $505 million in the third quarter of 2021.

“As we continue to witness the tragic consequences of the war in Ukraine, including global economic turbulence and volatility, our company and the U.S. energy sector as a whole can take some measure of pride in continuing to provide both our citizens and those around the world with natural gas, refined products and crude oil,” said Executive Chairman Richard D. Kinder. “The great work of more than 10,000 Kinder Morgan employees has contributed to another strong quarter, as we generated robust earnings and strong coverage of this quarter’s dividend. As always, the company remains steadfast in our long-standing goals: to maintain a strong investment-grade balance sheet, internally fund expansion opportunities, pay an attractive and growing dividend, and further reward our shareholders by repurchasing our shares on an opportunistic basis.”

“The company continues to perform better than budget, well above DCF plan for the quarter,” said Chief Executive Officer Steve Kean. “Our Natural Gas Pipelines segment continues to see strong demand for the extensive firm transport and storage services we offer, as well as favorable contract renewals on multiple assets across our network. We are also moving forward with projects to provide additional transport capacity to liquefied natural gas (LNG) facilities and remain focused on continuing to be the provider of choice for that growing market. Given the proximity of our existing assets to planned LNG expansions, we expect to maintain and potentially expand on our approximately 50% share of transport capacity to LNG export facilities.

“Domestically, we are seeing the market highly value our 700 billion cubic feet (Bcf) of working natural gas storage capacity,” continued Kean. “Our customers are increasingly recognizing the

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role storage must play in an energy system that requires flexible deliverability as the contribution from intermittent renewable sources continues to grow in the power sector.

“There is simply no question that the assets we operate and the services we provide will be needed for a long time to come. Similarly, it is indisputable that a lengthy transition to greater deployment of low carbon energy sources is underway — and we are responding to that. As we look ahead, roughly 80% of our project backlog is in lower-carbon energy services, including natural gas, renewable natural gas, renewable diesel and feedstocks associated with renewable diesel and sustainable aviation fuel,” Kean concluded.

“Our financial performance during the quarter was strong, as we generated earnings per share of $0.25 and DCF per share of $0.49,” said KMI President Kim Dang. “Earnings per share for the quarter were up 14% and DCF per share was up 11% as compared to the third quarter of 2021, and DCF per share was also up 7% versus budget. We generated $492 million of excess DCF above our declared dividend during the quarter.

“During the quarter, we took several steps to increase value for our shareholders, including progressing expansion projects and selling a 25.5% equity interest in Elba Liquefaction Company, L.L.C. (ELC) for approximately $565 million, which implies an approximately 13 times enterprise value to EBITDA multiple,” continued Dang. “We used those proceeds to reduce short-term debt and create additional capacity for attractive investments, including opportunistic share repurchases. Regarding share repurchases, year-to-date through October 18 we have repurchased approximately 21.7 million shares at an average price of $16.94 per share.”

For the first nine months of 2022, the company reported net income attributable to KMI of $1,878 million, compared to $1,147 million for the first nine months of 2021 and DCF of $3,753 million, down 14% from $4,367 million for the comparable period in 2021. Net income is up in 2022 in part due to a non-cash impairment charge taken in 2021. The DCF decrease compared to the prior period is due primarily to nonrecurring earnings during the February 2021 winter storm. Without the Uri impact, D

2022
Q2

Q2 2022 Earnings

8-K

Jul 20, 2022

0001506307-22-000063

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Exhibit 99.1

KINDER MORGAN ANNOUNCES DIVIDEND OF $0.2775 PER SHARE AND RAISES FULL YEAR FINANCIAL GUIDANCE

HOUSTON, July 20, 2022 - Kinder Morgan, Inc.’s (NYSE: KMI) board of directors today approved a cash dividend of $0.2775 per share for the second quarter ($1.11 annualized), payable on August 15, 2022, to stockholders of record as of the close of business on August 1, 2022. This dividend is a 3% increase over the second quarter of 2021.

The company is reporting second quarter net income attributable to KMI of $635 million, compared to a net loss attributable to KMI of $757 million in the second quarter of 2021; and distributable cash flow (DCF) of $1,176 million, compared to $1,025 million in the second quarter of 2021. Adjusted Earnings were $621 million for the quarter, versus $516 million in the second quarter of 2021.

“Global and domestic developments have highlighted the importance of energy security. Our company and the U.S. energy sector as a whole has proved to be a major part of the solution to adequately supplying the world with natural gas,” said Executive Chairman Richard D. Kinder. “That has also contributed to another strong quarter, as we generated robust earnings and strong coverage of this quarter’s dividend. As we have for the last six years, we continue to live within our cash flow, and expect to continue to fund expansion capital opportunities with the cash flow we generate. We also expect to meet or improve on our debt metric goal, and return excess cash to our shareholders through a strong dividend and opportunistic share repurchases.”

“We are performing better than budget across the enterprise, more than offsetting some higher cost headwinds. Even excluding commodity price tailwinds, we are well above DCF plan for the quarter. Notwithstanding cost increases associated with additional maintenance and integrity work, our team has managed to hold down increases to well below the headline national inflation numbers. Each of our business segments also outperformed the prior year period this quarter, with solid growth in our base natural gas business and commodity price uplift and SACROC above plan helping our CO2 business segment,” said Chief Executive Officer Steve Kean. “Our Natural Gas Pipelines segment continues to see strong demand for the extensive firm transport and storage services we offer, as well as favorable contract renewals. We are also prepared to invest more in the near term to support LNG growth as we pursue a robust set of opportunities for additional LNG transport capacity. We currently transport approximately 50% of the natural gas used for U.S. LNG exports and given the proximity of our assets to planned LNG expansions, we expect to maintain or grow that share as we pursue that set of opportunities.

“The current geopolitical climate has only reinforced our view that the assets we operate and the services we provide will be needed for a long time to come. At the same time, we continue to ramp up our participation in the ongoing energy evolution. We are investing in our pipelines and

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terminals in support of renewable diesel, sustainable aviation fuel and their associated feedstocks. We were also pleased that the Federal Energy Regulatory Commission (FERC) recently approved the first producer certified, low methane emissions natural gas aggregation pooling service on our Tennessee Gas Pipeline (TGP) as interest in that product grows within our customer base,” Kean concluded.

“Our financial performance during the quarter was strong, as we generated earnings per share of $0.28 and DCF per share of $0.52,” said President Kim Dang. “Earnings per share for the quarter were up 182% and DCF per share was up 16% as compared to the second quarter of 2021. Net income in the second quarter of 2021 was impacted by non-cash impairments related to anticipated lower volumes and rates on contract renewals on our South Texas natural gas processing and gathering assets. Also during the quarter, we generated $545 million of excess DCF above our declared dividend.”

For the first six months of 2022, the company reported net income attributable to KMI of $1,302 million, compared to $652 million for the first six months of 2021; and DCF of $2,631 million, down 22% from $3,354 million for the comparable period in 2021. The DCF decrease compared to the prior period is due to largely nonrecurring earnings during the February 2021 winter storm.

2022 Outlook

For 2022, KMI budgeted to generate net income attributable to KMI of $2.5 billion and declare dividends of $1.11 per share, a 3% increase from the 2021 declared dividends. The company also budgeted to generate 2022 DCF of $4.7 billion and Adjusted EBITDA of $7.2 billion and to end 2022 with a Net Debt-to-Adjusted EBITDA ratio of 4.3 times. KMI now expects net income attributable to KMI, Adjusted EBITDA and DCF to be favorable to budget by approximately 5%,

2022
Q1

Q1 2022 Earnings

8-K

Apr 20, 2022

0001506307-22-000035

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Exhibit 99.1

KINDER MORGAN INCREASES DIVIDEND TO $0.2775 PER SHARE PER QUARTER AND ANNOUNCES RESULTS FOR FIRST QUARTER OF 2022

HOUSTON, April 20, 2022 - Kinder Morgan, Inc.’s (NYSE: KMI) board of directors today approved a cash dividend of $0.2775 per share for the first quarter ($1.11 annualized), payable on May 16, 2022, to stockholders of record as of the close of business on May 2, 2022. This dividend is a 3% increase over the first quarter of 2021 and marks the fifth consecutive annual increase.

KMI is reporting first quarter net income attributable to KMI of $667 million, compared to $1,409 million in the first quarter of 2021; and distributable cash flow (DCF) of $1,455 million, compared to $2,329 million in the first quarter of 2021. Adjusted Earnings were $732 million for the quarter, versus $1,374 million in the first quarter of 2021. First quarter 2021 results were favorably impacted by earnings during the February 2021 Winter Storm Uri. Excluding those nonrecurring earnings, our current quarter earnings would be above the prior-year period.

“The company is off to a great start this year and once again generated robust earnings and strong coverage of this quarter’s dividend. We continue to live within our cash flow, have reduced our debt by more than $11 billion since 2015, and plan for this year to be the fifth consecutive year of increased dividends. During 2022 we expect to once again fund our expansion capital opportunities internally, meet or exceed our debt metric goal, and return excess cash to our shareholders through a dividend increase and opportunistic share repurchases,” said KMI Executive Chairman Richard D. Kinder.

“We are seeing great opportunities, both in our traditional segments and in our growing participation in the low-carbon energy evolution,” said KMI Chief Executive Officer Steve Kean. “While we are benefiting from commodity price tailwinds, we are also performing better than budget in a number of areas, which is more than offsetting some higher cost headwinds. Even excluding the commodity price tailwinds, we are above DCF plan for the quarter.”

Kean continued, “We are seeing growth in our base natural gas business as more customers seek to take advantage of the extensive firm transport and storage services we offer. That growth is coming from favorable renewals, especially on our flexible storage services, and from incremental growth opportunities. Our Stagecoach acquisition is fully integrated with our commercial and physical operations, producing the commercial opportunities we expected, and exceeding the acquisition model.

“Our Products business segment strongly outperformed the first quarter of 2021 and our Terminals segment also closed the quarter up relative to the prior year period. Our CO2 business

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is benefiting from higher crude prices and is also exceeding its oil production and CO2 volume targets,” Kean said.

“Our assets will be needed for a long time to come, providing the same services they do today. We have also positioned ourselves for the ongoing energy evolution. We are investing in our pipelines and terminals in support of renewable diesel and the associated feedstocks. We continue to leverage our status as a low methane emission intensity leader within our sector as interest in responsibly sourced natural gas grows within our customer base. And our investment in renewable natural gas is presenting good additional growth opportunities,” Kean concluded.

“KMI’s financial performance during the quarter was strong, as we generated earnings per share of $0.29 and DCF per share of $0.64. While these both represent a decrease from the first quarter of 2021, those 2021 results were positively impacted by the nonrecurring earnings achieved during Winter Storm Uri,” said KMI President Kim Dang. “Excluding Uri-related earnings from our 2021 results, earnings per share for the quarter were up 17% and DCF per share was up 16% as compared to the first quarter of 2021. Compared to our budget, net income attributable to KMI during the quarter was down $28 million, largely due to unsettled commodity hedges, which we treat as certain items. Adjusted Earnings, which exclude certain items, exceeded our budget for the quarter by $40 million, and DCF exceeded our budget by $62 million, or 4%. Also during the quarter, we generated $822 million of excess DCF above our declared dividend.”

2022 Outlook

For 2022, KMI budgeted to generate net income attributable to KMI of $2.5 billion and declare dividends of $1.11 per share, a 3% increase from the 2021 declared dividends. KMI also budgeted to generate 2022 DCF of $4.7 billion and Adjusted EBITDA of $7.2 billion and to end 2022 with a Net Debt-to-Adjusted EBITDA ratio of 4.3 times. KMI now expects net income, EBITDA and DCF to be favorable to budget due to stronger than expected commodity prices and favorable operating results from our Natural G

2021
Q4

Q4 2021 Earnings

8-K

Jan 19, 2022

0001506307-22-000002

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Exhibit 99.1

KINDER MORGAN ANNOUNCES $0.27 PER SHARE DIVIDEND AND RESULTS FOR FOURTH QUARTER OF 2021

HOUSTON, January 19, 2022 - Kinder Morgan, Inc.’s (NYSE: KMI) board of directors today approved a cash dividend of $0.27 per share for the fourth quarter ($1.08 annualized), payable on February 15, 2022, to stockholders of record as of the close of business on January 31, 2022. This dividend is a 3% increase over the fourth quarter of 2020.

KMI is reporting fourth quarter net income attributable to KMI of $637 million, compared to $607 million in the fourth quarter of 2020; and distributable cash flow (DCF) of $1,093 million, compared to $1,250 million in the fourth quarter of 2020. Adjusted Earnings were $609 million for the quarter, versus $604 million in the fourth quarter of 2020.

“Our assets once again generated robust Adjusted Earnings and strong coverage of this quarter’s dividend. The company provides our investors with dependable value grounded on stable cash flows and a time-honored corporate philosophy: fund our expansion capital opportunities internally, maintain a healthy balance sheet, and return excess cash to our shareholders through dividend increases and/or share repurchases,” said KMI Executive Chairman Richard D. Kinder.

“We closed out 2021 as a record year financially, beginning with our outstanding commercial and operational performance during Winter Storm Uri. We followed that by achieving our 2021 EBITDA target — not counting the earnings during the storm,” said KMI Chief Executive Officer Steve Kean. “I am especially proud of our more than 10,000 co-workers, who remained laser-focused on safety, operational excellence, and customer service — despite the waxing and waning pandemic and frequently changing restrictions around the country,” continued Kean.

“As we complete our 25th year, future prospects for the company look very bright. Our business model, predominantly take-or-pay and fee-based long-term contracts with creditworthy customers, remains durable. And our interconnected network of transportation and storage infrastructure is now recognized as even more valuable in the marketplace. We remain committed to allocating capital conservatively in both our traditional businesses and new opportunities in the low-carbon energy transition. With multiple new deals and arrangements for transporting responsibly-sourced or certified natural gas, we are leveraging our status as a low methane emission intensity leader within our sector. Our assets remain well positioned to serve growing domestic markets and export locations for liquefied natural gas (LNG) and Mexico. Over the next 25 years we plan to build on continued strong performance in our base businesses while exploring exciting new opportunities in the growing low-carbon sector,” Kean concluded.

“Our financial performance during the quarter was strong, as we generated fourth quarter earnings per share of $0.28, a 4% increase over the $0.27 earnings per share achieved in the

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fourth quarter of 2020,” said KMI President Kim Dang. “At $0.48 per share, DCF per share was down $0.07 from the fourth quarter of 2020, primarily due to higher sustaining capital expenditures in the fourth quarter of 2021 versus the fourth quarter of 2020. During the quarter, we generated $477 million of excess DCF above our declared dividend.

“The integration of our Kinetrex Energy and Stagecoach acquisitions went very well and Kinetrex made good progress on the construction of its three new landfill-based renewable natural gas (RNG) facilities during the quarter,” continued Dang. “Both acquisitions outperformed our acquisition models for the year.”

For the full year 2021, KMI reported net income attributable to KMI of $1,784 million, compared to $119 million in 2020; and DCF of $5,460 million, up 19% from $4,597 million for the comparable period in 2020. The increases compared to the prior period are primarily related to KMI’s strong performance during the February winter storm and are therefore largely nonrecurring.

2022 Outlook

For 2022, KMI expects to generate net income attributable to KMI of $2.5 billion and declare dividends of $1.11 per share, a 3% increase from the 2021 declared dividends. KMI expects to generate 2022 DCF of $4.7 billion and Adjusted EBITDA of $7.2 billion; and to end 2022 with a Net Debt-to-Adjusted EBITDA ratio of 4.3, below our long-term target of approximately 4.5 times. The $4.7 billion DCF and 4.3 times leverage metric do not reflect the potential impact of the possible use of up to $750 million available for attractive opportunities, including share repurchases.

Overview of Business Segments

“The Natural Gas Pipelines segment’s financial performance was up 2% in the fourth quarter of 2021 relative to the fourth quarter of 2020,” said Dang. “The segment provided higher contributions from the full year in-service of the Permian Highway Pipeline, as w

2021
Q3

Q3 2021 Earnings

8-K

Oct 20, 2021

0001506307-21-000104

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Exhibit 99.1

KINDER MORGAN ANNOUNCES $0.27 PER SHARE DIVIDEND AND RESULTS FOR THIRD QUARTER OF 2021

HOUSTON, October 20, 2021 - Kinder Morgan, Inc.’s (NYSE: KMI) board of directors today approved a cash dividend of $0.27 per share for the third quarter ($1.08 annualized), payable on November 15, 2021, to stockholders of record as of the close of business on November 1, 2021. This dividend represents a 3% increase over the third quarter of 2020.

KMI is reporting third quarter net income attributable to KMI of $495 million, compared to $455 million in the third quarter of 2020; and distributable cash flow (DCF) of $1,013 million, compared to $1,085 million in the third quarter of 2020. Adjusted Earnings were $505 million for the quarter, versus $485 million in the third quarter of 2020.

“Our company once again generated substantial Adjusted Earnings and robust coverage of this quarter’s dividend. Our stable cash flows and guiding philosophy create a compelling investment opportunity, as we remain committed to funding our expansion capital opportunities internally, maintaining a healthy balance sheet, and returning excess cash to our shareholders through dividend increases and/or share repurchases,” said KMI Executive Chairman Richard D. Kinder.

“Our business model, predominantly take-or-pay and fee-based long-term contracts with creditworthy customers, in conjunction with our valuable network of transportation and storage infrastructure, continues to generate strong financial performance” said KMI Chief Executive Officer Steve Kean. “We continue to allocate capital conservatively, leaving ourselves a margin of safety on the self-funded investments we make. We are maintaining that discipline as we look at opportunities in the low-carbon energy transition. That includes last quarter’s Kinetrex acquisition and the partnership we announced last month with Neste to use one of our Louisiana terminal facilities to create a storage and logistics hub for the raw material used in renewable diesel and sustainable aviation fuel, polymers and chemicals. Arrangements such as the one we have with Neste demonstrate the flexibility and durability of our assets even as energy sources evolve over time.

“In our base natural gas business, we continue to benefit from growing global natural gas demand. Our assets are well positioned to serve growing domestic markets and export locations for LNG and Mexico. Our status as a low methane emitter within our sector also positions us well to capitalize on increasing demand for responsibly-sourced or certified natural gas. And with 700 billion cubic feet of high deliverability natural gas storage capacity, we are also very well-positioned to move gas domestically when and where it’s needed most, whether during extreme weather events or more routinely to support intermittent renewable power generation.

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Overall, we are looking forward to continued strong performance and exciting new opportunities in our current businesses and through the evolution of energy markets,” Kean concluded.

“Our financial performance during the quarter was strong, as we generated third quarter earnings per share of $0.22, a 10% increase over the $0.20 earnings per share achieved in the third quarter of 2020,” said KMI President Kim Dang. “At $0.44 per share, DCF per share was down $0.04 from the third quarter of 2020, primarily due to higher sustaining capital expenditures in the third quarter of 2021 versus the third quarter of 2020. During the quarter, we generated $397 million of excess DCF above our declared dividend.

“In August, we closed on the acquisition of Kinetrex Energy announced last quarter, and saw progress on the construction of its three new landfill-based renewable natural gas (RNG) facilities. We expect all three to be operational by the end of next year,” continued Dang. “With North American RNG demand projected to triple during the next two decades, we see a great deal of potential growth here that dovetails nicely with our interconnected network of assets and strong customer relationships. Based on our experience so far, we currently forecast both Kinetrex and the Stagecoach acquisition that we also announced last quarter to slightly outperform our acquisition models for the year.”

For the first nine months of 2021, KMI reported net income attributable to KMI of $1,147 million, compared to a net loss attributable to KMI of $488 million for the first nine months of 2020; and DCF of $4,367 million, up 30% from $3,347 million for the comparable period in 2020. The increases compared to the prior period are primarily related to KMI’s strong performance during the February winter storm and are therefore largely nonrecurring.

2021 Outlook

For 2021, KMI expects to generate net income attributable to KMI of $1.7 billion and declare dividends of $1.08 per share, a 3% increase from the 2020 declared dividends. Consistent wi

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