Kinder Morgan, Inc. reported significant financial performance improvements in its latest 10-Q filing for the second quarter of 2025, with total revenues reaching $4.042 billion, a 13% increase from $3.572 billion in the same period last year. For the first half of 2025, revenues totaled $8.283 billion, up 12% from $7.414 billion in the prior year. The company attributed this growth primarily to increased natural gas sales driven by higher commodity prices and volumes, as well as expanded service revenues from new projects and acquisitions.
Net income for the second quarter was $742 million, a 23% increase from $602 million in the second quarter of 2024. For the first half of 2025, net income attributable to Kinder Morgan, Inc. was $1.432 billion, compared to $1.321 billion in the same period last year. Basic and diluted earnings per share rose to $0.32 for the second quarter and $0.64 for the first half, reflecting increases of 23% and 8%, respectively, compared to the previous year.
Strategically, Kinder Morgan completed the acquisition of a natural gas gathering and processing system from Outrigger Energy II LLC for $648 million in February 2025. This acquisition is expected to enhance the company's capabilities in the Natural Gas Pipelines segment. The company also reported a significant increase in capital expenditures, totaling $1.413 billion for the first half of 2025, driven by expansion projects across its business segments.
Operationally, Kinder Morgan's natural gas pipelines segment saw a 35% increase in earnings before depreciation, depletion, and amortization (EBDA) for the second quarter, largely due to increased demand and contributions from the newly acquired assets. The company reported transport volumes of 44,585 BBtu/d, up from 43,123 BBtu/d in the prior year. The Products Pipelines segment, however, experienced a decline in EBDA, primarily due to the expiration of legacy contracts and lower crude prices.
Looking ahead, Kinder Morgan anticipates declaring dividends of $1.17 per share for 2025, a 2% increase from the previous year. The company plans to invest approximately $3 billion in expansion projects and acquisitions throughout the year. Despite the positive outlook, management cautioned that various market conditions and operational challenges could impact future performance.
About KINDER MORGAN, INC.
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