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Kinder Morgan (KMI) Stock Slips on Q1 Earnings Miss

Kinder Morgan, Inc. KMI just released its first quarter fiscal 2016 earnings results, posting earnings of $0.12 per share and revenue of $3.2 billion.  

Currently, KMI has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

Kinder Morgan:                                    

1. Missed earnings estimates. The company posted earnings of $0.12, lagging behind our Zacks Consensus Estimate of $0.19.

2. Missed revenue estimates. The company saw revenue figures of $3.2 billion, missing our consensus estimate of $3.652 billion and reflecting a -11.1% year-over-year change.

3. Generated more than $1.2 billion of distributable cash flow in the first quarter.

4. For 2016, the company now expects EBITDA to be about 3% below its plan and its growth capital forecast to be approx. $2.9 billion, a reduction of $400 million from its budget, both a result of continued weakness in the energy sector.

5. KMI was down $0.40, or 2.11%, to $18.60 as of 5:10 PM ET in after-hours trading shortly after its earnings report was released.

6. Here’s a graph that looks at Kinder Morgan’s Street EPS and Surprise Percent:

Kinder Morgan, Inc. is engaged in energy transportation and storage in North America. The Company handles energy products like natural gas, refined petroleum products, crude oil, ethanol, coal and carbon dioxide (CO2). The Company operates: natural gas pipelines in the Rocky Mountains, the Midwest and Texas; refined petroleum products pipeline in North America; terminals for the storage of petroleum products and chemicals and CO2 pipelines and oil producing fields. Kinder Morgan is headquartered in Houston, Texas.

Check back later for our full analysis on Kinder Morgan’s first quarter earnings report!

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