)
)
Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Kinder Morgan
Kinder Morgan (KMI) investor relations material
Kinder Morgan Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary21 Oct, 2026
Executive summary
Q3 revenue rose 9% YoY to $4.531B; net income attributable increased 22% to $764M, GAAP EPS was $0.34 and adjusted EPS was $0.35, up 21%.
Adjusted EBITDA reached $2.180B, up 9% YoY, with higher adjusted earnings across all four segments.
Expansion backlog reached a record $14.4B, including $13.2B in natural gas projects; $5.4B of additions exceeded more than $700M placed in service.
Long-term, fee-based contracts and a strategically located asset network support stable cash flows and investment-led growth.
Financial highlights
9M revenue was $13.836B, net income attributable was $2.607B, and EPS was $1.17; net income rose 27% YoY.
Adjusted net income was $792M in Q3 versus $648M and $2.676B for 9M versus $2.033B; adjusted EPS was $0.35 in Q3 and $1.20 for 9M.
9M adjusted EBITDA was $6.918B, up 13%; adjusted net income increased 32% YoY.
9M operating cash flow was $5.041B versus $4.225B; free cash flow after dividends was $226M versus $69M.
Q3 adjusted results excluded $138M of legal, environmental and other accruals, $3M of risk-management activity, a $24M divestiture gain, and tax adjustments.
Outlook and guidance
2026 budget includes $8.6B adjusted EBITDA, $1.36 adjusted EPS, $3.1B net income attributable and $1.19 per share in declared dividends; adjusted EBITDA is expected to exceed budget by more than 6% and adjusted EPS by more than 13%.
2026 total capital investments are projected at $5.340B, including $1.095B sustaining and $4.245B expansion; expected investment in expansion projects, acquisitions and JV contributions is $4.2B.
Year-end net debt-to-adjusted EBITDA is expected at 3.6x versus 3.8x budget; Q3 ended at 3.5x.
Project backlog is expected to generate $2.5B of additional EBITDA once built; annual project spending is expected to run at ~$4B for the next few years, with growth varying as projects enter service.
The $0.2975-per-share Q3 dividend is payable November 16, 2026, to shareholders of record November 2; annualized dividends of $1.19 are up 2% from 2025.
Partial view of Summaries dataset, powered by Quartr API
AI can get things wrong. Verify important information.Research faster. Power your platform.
Latest events from Kinder Morgan
- Revised 2024 guidance targets 15% EPS growth as STX Midstream joins the portfolio.KMI
Q4 2023 - Strong utility and LNG demand are fueling major natural gas infrastructure expansions and growth.KMIWolfe Research Utilities, Midstream & Clean Energy Conference 2026-Virtual
- Strong natural gas demand and strategic expansions drive long-term growth and earnings visibility.KMIBarclays 40th Annual Energy-Power Conference
- Largest U.S. natural gas network drives growth with stable, contracted cash flows and $9.6bn in projects.KMIInvestor presentation
- Strong GHG reductions, major natural gas investments, and top ESG ratings drive sustainable growth.KMISustainability report presentation
- Record Q2 results and raised 2026 outlook driven by strong segment growth and a major pipeline acquisition.KMIQ2 2026
- Q1 2026 saw 36% net income growth, 18% EBITDA rise, and a $10.1B project backlog.KMIQ1 2026
- Q3 net income up 17% to $625M, project backlog up 34%, and dividend increased 2%.KMIQ3 2024
- Q1 2025 featured 10% revenue growth, a record backlog, and robust natural gas demand.KMIQ1 2025
Next Kinder Morgan earnings date
Q4 202620 Jan, 2027
Kinder Morgan
Next Kinder Morgan earnings date
Q4 202620 Jan, 2027
AI chat
Ask anything. Verify everything.
Ask across every event and document from public companies. Each answer links back to the exact line in the transcript, slide or filing it came from.Learn moreFind what matters
AI across all first-party IR material. Live calls, transcripts, slides, filings.)
Trust every finding
50m+ first-party documents. Every output traceable to its source.Find what matters
AI across all first-party IR material. Live calls, transcripts, slides, filings.Trust every finding
50m+ first-party documents. Every output traceable to its source.Automations
Zero in on what matters
Define the prompt once. It runs the moment a company publishes or on a schedule you set. Outputs map to the exact signals you choose.Learn more)
Event-triggered research
Runs when a company publishes new material. Trigger on the first published document for the earliest possible run, or wait for a specific one.)
Scheduled research
Runs on a recurring cadence you set. Daily, weekly, monthly, or quarterly, for aggregate reads across a period rather than a single event.Event-triggered research
Runs when a company publishes new material. Trigger on the first published document for the earliest possible run, or wait for a specific one.Scheduled research
Runs on a recurring cadence you set. Daily, weekly, monthly, or quarterly, for aggregate reads across a period rather than a single event.Live audio & transcripts
Be first
Join any earnings call live in one click, with no manual registration. Follow the transcript as it happens and jump straight to the moments that matter.Learn more)
Live earnings calls
Join any call in one click. The audio keeps playing while you work elsewhere in Quartr.)
Live transcripts
Speaker-by-speaker, in real time. Searchable across every live and historical call.Live earnings calls
Join any call in one click. The audio keeps playing while you work elsewhere in Quartr.Live transcripts
Speaker-by-speaker, in real time. Searchable across every live and historical call.Quartr MCP connects your AI environment to 17K+ public companies
Pull live transcripts, filings, and slides into Claude or Codex via MCP. Combine Quartr's global IR data with any other dataset. Run agentic research and monitoring.
Included with Quartr Pro at no extra cost.Learn more
Quartr's AI stands out because it only pulls clean, first-party data from public companies. In investing, that's everything.
Jamie Ross
Investment Manager, GAM Investments
GAM
GAM
Research that used to take hours now takes seconds with Quartr Pro. Tracking shifts in tone or extracting tables, it's as simple as typing a query.
Tom O'Hara
Investment Director
Ciena
Ciena
Before Quartr we spent hours manually compiling insights through the peer earnings cycle. Now, these tasks are done faster, with greater precision.
Gregg Lampf
VP of Investor Relations
Protean
Protean
Being able to ask specific questions across years of transcripts and reports and instantly get verified answers is a game-changer.
Pontus Dackmo
CEO & Investment Manager
)
)
Frequently asked questions
Oil and Gas Pipelines
Kinder Morgan is an American energy infrastructure company that specializes in the transportation and storage of natural gas, gasoline, crude oil, CO2, and other products. The company's pipelines transport natural gas, refined petroleum products, and crude oil, making it a key player in the US’s energy supply chain. Besides transportation, the company also owns and operates several storage facilities across the country. The company is headquartered in Houston, Texas, and its shares are listed on the NYSE.
Private - Public - Private - Public
Kinder Morgan was established in February 1997 by a group of investors. It was formed by the acquisition and merger of a group of pipelines and terminals originally owned by Enron Liquids Pipeline, L.P. The company's founders, Richard Kinder and William Morgan, were former executives at Enron. They aimed to create a different kind of energy company focused on pipeline transportation and storage. Over the years, Kinder Morgan expanded significantly through numerous acquisitions, consolidating various smaller energy infrastructure entities. The company was acquired and taken private in a leveraged buyout by various outside investors, including Goldman Sachs. The company went public again in 2011.
Transportation
Kinder Morgan's transportation business is a critical aspect of its operations, primarily focusing on the movement of natural gas, crude oil, gasoline, and carbon dioxide. The company owns an extensive network of pipelines, making it one of the largest pipeline operators in North America. This network facilitates the efficient and safe transportation of energy products across vast distances. Kinder Morgan's pipelines are integral to connecting energy-producing areas with consumption markets, and the infrastructure is vital for the energy sector. Two examples of public companies offering similar services are Energy Transfer and Plains All American.
Storage
Kinder Morgan's storage operations are a significant component of its business model, providing essential services in the energy sector. The company operates a diverse network of storage facilities, which include large-scale tanks and underground storage systems. These facilities are strategically located to support the energy supply chain, offering storage solutions for the same type of products that it offers transportation services for.