The U.S. pipeline operator posted adjusted earnings of 37 cents a share, topping the 32-cent analyst estimate as daily natural gas transport increased from a year earlier.
Kinder Morgan topped Wall Street expectations for second-quarter profit as higher natural gas volumes on its pipeline network lifted results. The company said it moved about 47,886 billion British thermal units (Btu) of natural gas per day in the quarter, up from 44,818 billion Btu per day a year earlier. For the three months ended June 30, the Houston, Texas-based pipeline operator reported adjusted profit of 37 cents per share, ahead of analysts' estimate of 32 cents per share, according to LSEG. The result comes as U.S. pipeline companies benefit from strong oil and gas production in the Permian Basin and rising gas demand tied to record LNG exports and heavier electricity consumption from AI operations, cryptocurrency mining and data centers.