Back on Track: Kinder Morgan Reports In-Line 1Q
Kinder Morgan reported an in-line first quarter, with adjusted EBITDA of $1.82 billion matching consensus expectations. Operational performance was ahead of management’s previous guidance, and the company believes it is on track to achieve its full-year outlook. In the quarter, natural gas transport volumes were up modestly (1%), while its carbon dioxide segment lagged as a result of slightly lower commodity prices. The bright spot for the quarter was the terminalling segment, which benefits fro...Kinder Morgan is an energy infrastructure company. The company's segments are: Natural Gas Pipelines, which includes the ownership and operation of, among others, main interstate and intrastate natural gas pipeline and storage systems; Products Pipelines, which includes the refined petroleum products, crude oil and condensate pipelines; Terminals, which includes the ownership and/or operation of, among others, liquids and bulk terminal facilities; and carbon dioxide (CO2), which includes the production, transportation and marketing of CO2, ownership interests in and/or operation of oil fields and gasoline processing plants in West Texas.
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