Kinder Morgan reports Q4 EPS 27c, consensus 30c

Reports Q4 revenue $4.04B, consensus $4.41B. “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. 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.”