The company said revenues for the 3 and 9 months ended 2024 decreased $208 million and $183 million, respectively, from the prior-year periods, and costs of sales fell $381 million and $493 million. It cited lower product sales and lower natural gas sales, offset by higher services revenues, as factors.

1. 01

   The company said revenues for the 3 and 9 months ended 2024 decreased $208 million and $183 million, respectively, from the prior-year periods, and costs of sales fell $381 million and $493 million. It cited lower product sales and lower natural gas sales, offset by higher services revenues, as factors.

2. 02

   Kinder Morgan said operating cash flow for the first 9 months of 2024 was $4,125 million, roughly in line with $4,169 million in the same period of 2023. It said cash used in investing activities increased by $125 million, while cash used in financing activities decreased by $903 million.

3. 03

   The company said it issued senior notes in February 1, 2024 with net proceeds of $2,230 million, and on July 31 it issued $1,235 million of senior notes. It said the proceeds were used to repay short-term borrowings and maturing debt. The company also said its short-term debt was $1,984 million as of September 30, 2024, down from $4,049 million at the end of 2023.

4. 04

   Kinder Morgan said it expects to declare dividends of $1.15 per share for 2024, which is 2% higher than the $1.13 declared in 2023. The company also said it expects to invest $1.98 billion in expansion projects, acquisitions and contributions to joint ventures in 2024.

Key figures

Quarter ended September 30, 2024

Revenue

$3.3B

Operating income

$1.0B

Net income

$625M

EPS

$0.28

Analysis 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.

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.