Kinder Morgan Reports Lower-Than-Expected Q4 Profit

Despite the downturn, the company raises its 2024 profit guidance, expecting growth over 2023.

Kinder Morgan reported a lower-than-expected profit for Q4, with earnings of 28 cents per share compared to analysts' estimate of 30 cents.
The company's earnings were affected by higher interest expenses and weakness in the natural gas pipeline segment.
Despite the decline, Kinder Morgan raised its adjusted core profit guidance for 2024 to $1.22 per share, up from its previous forecast of $1.21.
The company's stock experienced volatility following the release of the Q4 results.
Kinder Morgan's 2024 budget includes an expected dividend declaration of $1.15 per share.