Kinder Morgan Posts Record Q2, Raises 2026 Outlook on Strong Natural Gas Demand
KMI sits 27% above its 52-week low of $25.6.
Summary
Kinder Morgan reported record Q2 2026 earnings, raised its full-year outlook, and declared a higher dividend, reflecting strong demand for natural gas infrastructure.
Key Events · Earnings and Guidance · KMI
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Record Q2 Net Income
Net income attributable to KMI reached $867 million, up 21% from $715 million in Q2 2025, driven by higher contributions from Natural Gas Pipelines and CO2 segments.
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Adjusted EBITDA and EPS Beat
Adjusted EBITDA rose 12% to $2,199 million, and Adjusted EPS jumped 32% to $0.37, both second-quarter records.
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2026 Guidance Raised
KMI now expects Adjusted EBITDA more than 5% above its $8.6 billion budget and Adjusted EPS more than 12% above its $1.36 budget, with year-end leverage improving to 3.6x.
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Dividend Increase
Board declared a $0.2975 per share dividend ($1.19 annualized), a 2% increase over Q2 2025, payable August 17, 2026.
Analysis · KMI · Energy & Transportation
Kinder Morgan delivered a record second quarter, with net income rising 21% to $867 million and Adjusted EBITDA up 12% to $2.2 billion, driven by higher natural gas transport and gathering volumes. The company raised its full-year 2026 guidance, now expecting Adjusted EBITDA more than 5% above budget and Adjusted EPS more than 12% above budget, while projecting a lower year-end leverage ratio of 3.6x. The results underscore the value of its fee-based, contracted infrastructure portfolio amid growing LNG exports, power demand, and industrial expansion. The board also declared a $0.2975 per share dividend, a 2% increase over the prior year.
At the time of this filing, KMI was trading at $32.51 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $72.3B. The 52-week trading range was $25.60 to $34.81. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.