Kinder Morgan sees FY24 EPS $1.22, consensus $1.21

The company states: “For 2024, including contributions from the acquired STX Midstream assets, KMI budgeted net income attributable to KMI of $2.7 billion, or $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, 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 crude oil and Henry Hub natural gas of $82 per barrel and $3.50 per million British thermal unit , respectively, consistent with the published forward curve available during the company’s annual budget process.” CEO Kim Dang added: “We expect to be roughly in-line with our budget for the full year (on budget or within 1-2% below). Lower than budgeted commodity prices, winter weather impacts and start-up delays on our RNG facilities as well as lower G&P volumes are expected to be offset or mostly offset by better than budgeted natural gas transport and storage contributions, better than expected contributions from our Terminals segment, and lower pension costs.”