Kinder Morgan Inc Misses Earnings Estimates, Ups Dividend

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Kinder Morgan Inc Misses Earnings Estimates, Ups Dividend

Kinder Morgan released its second quarter earnings report after closing bell tonight, posting earnings of 15 cents per share on $3.46 billion in revenue. Analysts had been expecting earnings of 19 cents per share on $3.96 billion in revenue.

Key metrics from Kinder Morgan’s earnings report

The firm posted distributable cash flow before items of 50 cents per share, compared to 32 cents per share last year. Distributable cash flow before items was $1.095 billion, compared to $332 million in last year’s second quarter.

The main driver of that increase was the merger transactions which were completed in November. Net income fell from $497 million last year to $342 million this year. Management cited reason for the decline as higher DD&A expenses, interest expenses, and book taxes.

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