Kinetik Holdings reports Q3 EPS 3c, consensus 28c

Reports Q3 revenue $463.97M, consensus $430.81M. “Kinetik achieved a significant milestone in Q3 of 2025 with the full commercial in-service of Kings Landing, adding critical processing capacity in New Mexico,” said CEO Jamie Welch. “And today, we announced FID on the AGI project at Kings Landing, further positioning Kinetik to capture the significant sour gas opportunity in the Northern Delaware. The Permian continues to stand out – it remains one of the lowest cost sources of incremental hydrocarbons globally, and its producers continue to extract efficiency gains as they do more with less. That said, the Permian is not fully insulated from the current commodity headwinds. Delaware Basin rig count is down nearly 20% since the start of the year, and the Permian experienced substantial production shut-ins as Waha natural gas prices were negative. Industry consultants’ updated forecasts are corroborating what we are seeing from our customers, which is slowing producer activity that likely results in slightly slower Permian natural gas production growth. In the face of these volume-related headwinds, the company’s positioning within the Delaware Basin, upcoming natural gas liquids contract expirations, and backlog of low multiple, high return organic investments reinforce management’s conviction in Kinetik’s long-term value proposition.”