=Kinder Morgan (KMI) reported earnings on Wed 18 Apr 2018 (a/h)

Kinder Morgan beats by $0.01, misses on revs; expects to meet or exceed FY18 DCF and Adjusted EBITDA targets 

• Reports Q1 (Mar) earnings of $0.22 per share, $0.01 better than the Capital IQ Consensus of $0.21; revenues fell 0.2% year/year to $3.42 bln vs the $3.56 bln Capital IQ Consensus. 
• For 2018, KMI's budget is set to declare dividends of $0.80 per common share and achieve DCF of ~$4.57 billion ($2.05 per common share) and Adjusted EBITDA of ~$7.5 billion, and it expects to meet or exceed those DCF and Adjusted EBITDA targets. KMI now forecasts to invest $2.3 billion in growth projects during 2018 (excluding growth capital expected to be funded by KML), up $100 million from the budget, to be funded with internally generated cash flow without the need to access capital markets. KMI also expects to meet or beat its budgeted leverage metric of a year-end Net Debt-to-Adjusted EBITDA ratio of ~5.1 times.