Kinder Morgan, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
October 21, 2021 at 01:45 am IST
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Kinder Morgan, Inc. reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported sales was USD 3,824 million compared to USD 2,919 million a year ago. Net income was USD 495 million compared to USD 455 million a year ago. Basic earnings per share from continuing operations was USD 0.22 compared to USD 0.2 a year ago.
For the nine months, sales was USD 12,185 million compared to USD 8,585 million a year ago. Net income was USD 1,147 million compared to net loss of USD 488 million a year ago. Basic earnings per share from continuing operations was USD 0.5 compared to basic loss per share from continuing operations of USD 0.22 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.