HOUSTON (AP) — HOUSTON (AP) — Natural gas pipeline giant Kinder Morgan Inc. (KMI) on Wednesday reported second-quarter profit of $575 million.
On a per-share basis, the Houston-based company said it had profit of 26 cents. Earnings, adjusted for non-recurring gains, were 25 cents per share.
The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 25 cents per share.
The oil and natural gas pipeline and storage company posted revenue of $3.57 billion in the period.
Kinder Morgan expects full-year earnings to be $1.22 per share.
Investors are bullish on the stock because of the company’s prospects to supply energy for the AI data center boom.
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