AI English summary of an SEC filing — figures as filed
Kinder Morgan KMIKinder Morgan said revenues for Q1 2024 decreased $46 million from the prior-year period. The company cited lower natural gas sales of $173 million among the factors, and said services revenues increased $153 million, driven by the acquisition of the STX Midstream assets.
Key points
AI summaryKinder Morgan said revenues for Q1 2024 decreased $46 million from the prior-year period. The company cited lower natural gas sales of $173 million among the factors, and said services revenues increased $153 million, driven by the acquisition of the STX Midstream assets.
KMI said Adjusted Net Income Attributable to Kinder Morgan, Inc. rose $83 million in Q1 2024 from the year-earlier period, while DCF rose $48 million and Adjusted EBITDA rose $141. The company cited margins from its Natural Gas Pipelines, Products Pipelines and Terminals segments as factors.
Kinder Morgan said it issued $1,250 million of 5.00% senior notes due 2029 and $1,000 million of 5.40% senior notes due 2034 on February 1, 2024, raising net proceeds of $2,230 million. Its working capital deficit narrowed from $4,679 million at the end of 2023 to $2,268 million as of March 31, 2024.
Kinder Morgan said cash flow from operating activities was $1,189 million for Q1 2024, down $144 million from $1,333 million in the prior-year period. The company said it expects to declare dividends of $1.15 per share for 2024, a 2% increase over $1.13 declared for 2023.
Key figures
Quarter ended March 31, 2024
- Revenue
- $3.4B
- Operating income
- $1.2B
- Net income
- $746M
- EPS
- $0.33
- Operating cash flow
- $1.2B
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Q1 2024 Revenue and Services Revenue Changes
Kinder Morgan said revenues for Q1 2024 decreased $46 million from the prior-year period. The company cited lower natural gas sales of $173 million among the factors, and said services revenues increased $153 million, driven by the acquisition of the STX Midstream assets.
Source · Based on the MD&A text of the filing
Adjusted Net Income, DCF and Adjusted EBITDA Increase
KMI said Adjusted Net Income Attributable to Kinder Morgan, Inc. rose $83 million in Q1 2024 from the year-earlier period, while DCF rose $48 million and Adjusted EBITDA rose $141. The company cited margins from its Natural Gas Pipelines, Products Pipelines and Terminals segments as factors.
Source · Based on the MD&A text of the filing
February 2024 Senior Notes Issuance and Working Capital
Kinder Morgan said it issued $1,250 million of 5.00% senior notes due 2029 and $1,000 million of 5.40% senior notes due 2034 on February 1, 2024, raising net proceeds of $2,230 million. Its working capital deficit narrowed from $4,679 million at the end of 2023 to $2,268 million as of March 31, 2024.
Source · Based on the MD&A text of the filing
Operating Cash Flow and 2024 Dividend Outlook
Kinder Morgan said cash flow from operating activities was $1,189 million for Q1 2024, down $144 million from $1,333 million in the prior-year period. The company said it expects to declare dividends of $1.15 per share for 2024, a 2% increase over $1.13 declared for 2023.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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