Kinder Morgan reported strong second-quarter 2025 financial results on July 16, 2025, with total revenues increasing by 13% year-over-year to $4.04 billion. Net income attributable to KMI rose by 24% to $715 million, translating to $0.32 basic and diluted earnings per share.
Adjusted EPS grew by 12% to $0.28, and Adjusted EBITDA saw a healthy 6% increase to $1.972 billion. The company's project backlog expanded to $9.3 billion, a 6% increase from the end of Q1 2025, with $1.3 billion in new projects added and $750 million placed in service.
KMI raised its 2025 outlook, projecting Adjusted EBITDA growth to reach 5% (including the Outrigger acquisition) and Adjusted EPS growth at an attractive 10% from 2024. The board also approved a quarterly dividend of $0.2925 per share, a 2% increase from Q2 2024, and anticipates significant cash tax benefits in 2026 and 2027.
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