AI Earnings Predictions for Kinetik Holdings Inc. (KNTK)

EX-99.1

2 kntkex991pressreleaseq12026.htm

EX-99.1

Document

Kinetik Reports Record First Quarter 2026 Financial Results

HOUSTON and MIDLAND, Texas, May 6, 2026 – Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) today reported financial results for the quarter ended March 31, 2026.

For the three months ended March 31, 2026, Kinetik reported net loss including noncontrolling interest of $5.1 million, Adjusted EBITDA1 of $251.2 million, Distributable Cash Flow1 of $180.8 million, and Free Cash Flow1 of $101.4 million.

Highlights

•Delivered record first quarter 2026 financial results, driven by strong execution across the Company

•Amended multiple Durango gas gathering and processing agreements with a large existing customer, extending contract terms to 2039 and increasing the original dedicated acreage position in New Mexico

•Executed several new agreements with customers in Texas and New Mexico for gas, water, and crude midstream services

•Received approvals from the Bureau of Land Management and the New Mexico Oil Conservation Division to fully proceed with the acid gas injection and sour conversion project at Kings Landing with expected in-service by year-end 2026

•Secured additional Gulf Coast pricing for 2028 through 2030 that further mitigates Waha natural gas exposure

•Affirming full year 2026 Financial Guidance:

◦Adjusted EBITDA1 guidance of $950 million to $1,050 million

◦Capital Expenditures2 guidance of $450 million to $510 million (including maintenance)

CEO Commentary

“Kinetik delivered a strong start to 2026, reflecting the strategic positioning of the business, as well as successful commercial and operational execution,” said Jamie Welch, Kinetik’s President & Chief Executive Officer. “Accounting for the divestiture of our stake in EPIC Crude Holdings LP (“EPIC Crude”), first quarter 2026 Adjusted EBITDA1 of $251 million represents a new quarterly record for the Company. Our financial performance was above internal expectations and reinforces our confidence in our 2026 guidance.”

“While geopolitical tensions in the Middle East have introduced near-term commodity price volatility, Kinetik's fee-based, domestic midstream business model provides meaningful insulation. Elevated crude prices continue to support our oil-weighted customers’ well economics, while gas price-sensitive customers have deferred some 2026 activity in response to negative Waha pricing; so on balance, we have not observed a material impact to producer activity levels for 2026 across our footprint. However, when looking ahead, we have seen and are continuing to see customers pull forward activity to early 2027, setting up for a strong year that coincides with new Permian egress capacity coming online.”

Welch added, “Year to date through April, the Waha Hub is even more oversupplied and volatile than our original expectations with Waha gas daily averaging negative $2.37 per Mmbtu. We continue to experience price-related volume curtailments from our gas price-sensitive customers. While we are revising our 2026 processed gas volume growth assumptions to reflect these dynamics, our Gulf Coast transportation position more than offsets this impact by capitalizing on wider Permian to Gulf Coast price differentials. The scale and pace of incremental residue gas takeaway capacity from the Permian Basin continues to reshape the long‑term outlook with more than 5 Bcf/d of new capacity expected to be in service by early 2027 and an additional approximately 6 Bcf/d anticipated in 2028 and 2029.”

“Against this backdrop, Kinetik is well positioned to capture the value of this structural Permian gas growth. The Durango amendments executed over the last four months, which extend roughly 75% of legacy volumes into the mid and late 2030s, the new agreements across Texas and New Mexico, and the incremental Gulf Coast natural gas pricing exposure through 2030 demonstrate our commercial strategy translating into multi-year earnings visibility.”

1

Financial Highlights

Three months ended March 31, 2026

(In thousands, except ratios)

Net loss including noncontrolling interest $(5,125)

Adjusted EBITDA1 $251,200

Midstream Logistics Adjusted EBITDA1 $178,921

Pipeline Transportation Adjusted EBITDA1 $77,977

Corporate and Other Adjusted EBITDA1 $(5,698)

Distributable Cash Flow1 $180,831

Dividend Coverage Ratio1,3 1.4x

Capital Expenditures2 $91,333

Free Cash Flow1 $101,381

Net Debt1,4 $3,854,380

Liquidity (Cash and Revolver Availability)5 $1,120,120

Leverage Ratio1,6 3.9x

Net Debt to Adjusted EBITDA Ratio1,7 3.9x

Common stock issued and outstanding8 162,360

Dividend per share of issued and outstanding common stock $0.81

Segment Insights

The Midstream Logistics segment generated Adjusted EBITDA1 of $178.9 million, a 12% increase year-over-year. For the three months ended March 31, 2026, Kinetik processed natural gas volumes of 1.81 Bcf/d, a 1% increase year-over-year despite an estimated 170 Mmcf/d of Waha pr

apa-20260225FALSE000169278700016927872026-02-252026-02-25

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

February 25, 2026 Date of Report (date of earliest event reported)

Kinetik Holdings Inc. (Exact name of registrant as specified in its charter)

Delaware (State or other jurisdiction of incorporation or organization) 001-38048 (Commission File Number) 81-4675947 (I.R.S. Employer Identification Number)

2700 Post Oak Blvd. Suite 300 Houston, Texas 77056

(Address of principal executive offices and zip code)

(713) 621-7330

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol Name of each exchange on which registered

Class A Common Stock, par value $0.0001 per share

KNTK

New York Stock Exchange

NYSE Texas

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 12b-2 of the Exchange Act.

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition

On February 25, 2026, Kinetik Holdings Inc. issued a press release announcing financial and operating results for the fiscal quarter ended December 31, 2025. The full text of the press release is furnished herewith as Exhibit 99.1 and incorporated herein by reference.

The information in this Current Report on Form 8-K, including Exhibit 99.1 furnished herewith, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of Section 18, and shall not be incorporated by reference in any filing under the Securities Act or the Exchange Act, except as set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) The following exhibits are being filed herewith.

Exhibit No. Description of Exhibit

99.1 Press Release of Kinetik Holdings Inc. dated February 25, 2026

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Kinetik Holdings Inc.

Dated: February 25, 2026

/s/ Steven Stellato

Steven Stellato

Executive Vice President, Chief Accounting and Chief Administrative Officer

apa-20251105FALSE000169278700016927872025-11-052025-11-05

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

November 5, 2025 Date of Report (date of earliest event reported)

Kinetik Holdings Inc. (Exact name of registrant as specified in its charter)

Delaware (State or other jurisdiction of incorporation or organization) 001-38048 (Commission File Number) 81-4675947 (I.R.S. Employer Identification Number)

2700 Post Oak Blvd. Suite 300 Houston, Texas 77056

(Address of principal executive offices and zip code)

(713) 621-7330

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol Name of each exchange on which registered

Class A Common Stock, par value $0.0001 per shareKNTKNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 12b-2 of the Exchange Act.

Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition

On November 05, 2025, Kinetik Holdings Inc. issued a press release announcing financial and operating results for the fiscal quarter ended September 30, 2025. The full text of the press release is furnished herewith as Exhibit 99.1 and incorporated herein by reference.

The information in this Current Report on Form 8-K, including Exhibit 99.1 furnished herewith, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of Section 18, and shall not be incorporated by reference in any filing under the Securities Act or the Exchange Act, except as set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) The following exhibits are being filed herewith.

Exhibit No.Description of Exhibit 99.1Press Release of Kinetik Holdings Inc. dated November 5, 2025

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Kinetik Holdings Inc.

Dated:November 5, 2025 /s/ Steven Stellato Steven Stellato Executive Vice President, Chief Accounting and Chief Administrative Officer