Kinder Morgan Expects "Very Strong" 2022

Kinder Morgan, Inc. (KMI) Monday announced its preliminary 2022 financial projections. The company also plans to distribute a $1.11 dividend per share and buyback up to $750 million shares in the next fiscal year.

Looking forward to full year 2022, Kinder Morgan expects to generate net income of $1.09 per share, up $0.33 from current 2021 forecast of $0.76 per share. The company expects to generate distributable cash flow of $2.07 per share, down 13% with the outperformance due to Uri reflected in the current forecast for 2021.

"For 2022, with our market fundamentals remaining robust, a full year of earnings from our Stagecoach acquisition, and the completion of several projects in the fourth quarter of 2021, we project a very strong year," said Steve Kean, KMI chief executive officer.

"We expect 2021 to be a record year for Kinder Morgan financially, attributable to our outperformance related to winter storm Uri in the first quarter, along with solid project execution across our business units, and two important acquisitions. Our strong performance is also reflected in our debt metric, as we expect to end the year with a Net Debt-to-Adjusted EBITDA ratio of 4.0 times, much better than our budgeted ratio of 4.6 times," said Kean.

Further, the company said it plans to return additional value to shareholders in 2022 through an anticipated $1.11 per share dividend and opportunistic share repurchases of up to $750 million.

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