Kinder Morgan's first quarter 2026 earnings beat estimates, with EPS up 38% driven by strong natural gas performance.

Kinder Morgan reported first quarter 2026 revenue of $4.83 billion and EPS of $0.44, beating analyst estimates of $4.65 billion and $0.38, respectively. The results were driven by substantial outperformance in the Natural Gas Pipelines segment, which benefited from strong volumes during colder winter weather.

Key Highlights

• Adjusted EBITDA rose 18% year-over-year to $2.54 billion, with the company now trending more than 3% above its full-year 2026 budget.
• Natural gas transport volumes increased 8% compared to the prior-year quarter, primarily due to higher LNG deliveries.
• The company's project backlog grew to $10.1 billion, with natural gas projects accounting for approximately 92% of the total.
• The quarterly dividend was increased by 2% to $0.2975 per share, representing an annualized rate of $1.19.