Kinder Morgan, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
October 20, 2022 at 01:35 am IST
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Kinder Morgan, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 5,177 million compared to USD 3,824 million a year ago. Net income was USD 576 million compared to USD 495 million a year ago. Basic earnings per share from continuing operations was USD 0.25 compared to USD 0.22 a year ago.
For the nine months, sales was USD 14,621 million compared to USD 12,185 million a year ago. Net income was USD 1,878 million compared to USD 1,147 million a year ago. Basic earnings per share from continuing operations was USD 0.83 compared to USD 0.5 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.