Q4 FY2024 results ended on Dec 31, 2024
- Revenue: $3.99B vs $4.04B in Q4 2023
- Net income: $667M, +12% YoY from $594M
- EPS: $0.30, +11% YoY from $0.27
- Adjusted EBITDA: $2.06B, +7% YoY from $1.93B
CEO Kim Dang: "KMI had a very strong fourth quarter on increased financial contributions from our Natural Gas Pipelines, Products Pipelines and Terminals business segments, with Adjusted EBITDA up 7% versus the fourth quarter of 2023."
🌱Revenue & Growth
- Natural Gas transport volumes flat YoY
- Natural Gas gathering volumes down 7% YoY
- Refined products volumes up 2% YoY
- Crude and condensate volumes down 5% YoY
- Terminals liquids leased capacity 95.2% vs 93.3% YoY
💰Profits & Financials
- Operating income: $1.11B vs $1.10B in Q4 2023
- Free cash flow: $738M vs $1.69B in Q4 2023
- Net Debt-to-Adjusted EBITDA ratio: 4.0x
- Declared dividend: $0.2875 per share, +2% YoY
- Cash flow from operations: $1.5B
📌Business Highlights
- Announced $1.7B Trident Intrastate Pipeline Project
- Secured additional contracts for Mississippi Crossing Project
- Agreed to purchase Outrigger Energy II for $640M
- Project backlog increased to $8.1B, +60% vs Q3 2024
- Autumn Hills RNG facility expected to be in service soon
🔮Future Outlook
- FY2025 net income target: $2.8B, +8% vs 2024
- FY2025 Adjusted EPS target: $1.27, +10% vs 2024
- FY2025 dividend target: $1.17 per share, +2% increase
- FY2025 Adjusted EBITDA target: $8.3B, +4% vs 2024
- End 2025 Net Debt-to-Adjusted EBITDA target: 3.8x