=Kinder Morgan (KMI) reported earnings on Wed 21 Oct 2020 (a/h)

 

Kinder Morgan beats by $0.01, reports revs in-line, expects FY20 DCF to be below original expectations

Reports Q3 (Sep) earnings of $0.21 per share, $0.01 better than the S&P Capital IQ Consensus of $0.20; revenues fell 9.2% year/year to $2.92 bln vs the $2.94 bln S&P Capital IQ Consensus.

2020 Outlook: For 2020, KMI's original budget contemplated DCF of approximately $5.1 billion ($2.24 per common share) and Adjusted EBITDA of approximately $7.6 billion. Because of the pandemic-related reduced energy demand and the sharp decline in commodity prices, the company expects DCF to be below plan by slightly more than 10% and Adjusted EBITDA to be below plan by slightly more than 8%. As a result, KMI expects to end 2020 with a Net Debt-to-Adjusted EBITDA ratio of approximately 4.6 times.