Kinder Morgan Forecasts Strong Natural Gas Demand and Earnings Growth

Kinder Morgan reported Q1 2024 adjusted earnings per share of 34 cents, beating estimates, with increased contributions from its Natural Gas Pipelines, Products Pipelines, and Terminals business segments. The company also announced a 2% dividend hike. Despite missing revenue estimates, the company's strong quarterly performance was driven by reduced costs and expenses. Kinder Morgan projects a 15% increase in net income for 2024 and aims for 8% growth in distributable cash flow and adjusted EBITDA.