Kinder Morgan, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2021
January 20, 2022 at 02:38 am IST
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Kinder Morgan, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2021. For the fourth quarter, the company reported sales was USD 4,425 million compared to USD 3,115 million a year ago. Net income was USD 637 million compared to USD 607 million a year ago. Basic earnings per share from continuing operations was USD 0.28 compared to USD 0.27 a year ago.
For the full year, sales was USD 16,610 million compared to USD 11,700 million a year ago. Net income was USD 1,784 million compared to USD 119 million a year ago. Basic earnings per share from continuing operations was USD 0.78 compared to USD 0.05 a year ago.
Kinder Morgan, Inc. specializes in transporting and storing oil and gas. Net sales (including intragroup) break down by activity as follows:
- transport, processing and storage of natural gas (70.2%);
- transport of refined oil products (13.5%): gasoline, diesel, liquefied natural gas (LNG), etc.;
- transshipment and storage of petroleum products, dry and liquid bulk services (10.3%): fuel, coal, petroleum coke, cement, alumina, salt, chemical products, etc.;
- transport and sale of carbon dioxide (6%). The group also develops crude oil production activity in the Permian Basin in West Texas.
The United States accounts for 99.2% of net sales.