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Kinetik (KNTK) investor relations material
Kinetik Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary7 Aug, 2025
Executive summary
Q2 2025 Adjusted EBITDA was $243M, net income $74.4M, and free cash flow $8M, with 11% growth in processed gas volumes and resilience amid macroeconomic and commodity price volatility.
Commissioning of Kings Landing began in June, with full commercial service expected by late September 2025; ECCC Pipeline construction started, targeting in-service in H1 2026.
Strategic acquisitions (Barilla Draw, Durango, WellConnex) and expansions increased midstream footprint and processing capacity.
$173M of Class A shares repurchased since May 2025, including $73M in Q2; refinancing of major credit facilities extended maturities to 2028 and 2030.
Organic and inorganic growth initiatives, including Kings Landing and ECCC, position the company for accelerating growth into 2026 and beyond.
Financial highlights
Q2 2025 Adjusted EBITDA: $243M; Distributable Cash Flow: $153M; Free Cash Flow: $8M; Net income: $74.4M; Capital Expenditures: $126M.
Q2 2025 total operating revenues: $426.7M, up 19% year-over-year; service revenue $112.7M, product revenue $311.6M.
Midstream Logistics Adjusted EBITDA: $151M (up 3% YoY); Pipeline Transportation Adjusted EBITDA: $97M (up 3% YoY).
Net debt as of June 30, 2025: $3.94B; leverage ratio at 3.6x.
Dividend coverage ratio at 1.2x; $0.78/share dividend declared in July 2025.
Outlook and guidance
2025 Adjusted EBITDA guidance revised to $1.03B–$1.09B, reflecting project timing delays and commodity price headwinds.
Q4 2025 annualized Adjusted EBITDA expected to be ~$1.2B; capital guidance narrowed to $460M–$530M, with spending weighted to H2 2025.
Management targets ~10% compound annual Adjusted EBITDA growth through 2030 and annual 3–5% dividend increases.
Significant hedges in place for 2025–2027 to mitigate commodity price exposure.
Existing capital resources expected to fund planned expenditures and dividends over the next 12 months.
When is ECCC Pipeline in-service expected?
Explain Kings Landing's impact on gas volume.
Detail Kinetik's CO2 feedstock commitment.
How will ECCC impact processing capacity?
What's driving confidence in Northern NM?
How will TAG capacity triple at Kings Landing?
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Next Kinetik earnings date
Q3 20256 Nov, 2025
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Frequently asked questions
Kinetik Holdings Inc. is an energy infrastructure company that provides midstream services for oil and natural gas producers. The company operates gathering, transportation, and processing facilities, primarily in the Permian Basin, one of the largest oil and gas producing regions in the United States. Kinetik's services include natural gas gathering and processing, crude oil gathering, and transportation of natural gas liquids (NGLs). The company is headquartered in Houston, Texas, and its shares are listed on the NASDAQ.
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