logo
  

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Swiss luxury goods group Compagnie Financiere Richemont AG reported Friday significantly higher profit in fiscal 2022 with strong growth in demand. The company also lifted its dividend, and announced a special dividend. Meanwhile, the shares were losing around 12 percent in the morning trading in Switzerland. Coeurd-Alene, Idaho-based White Cane Smoked Salmon LLC is recalling Wild Alaskan Cooked and Smoked Salmon as it contains undeclared wheat and soy, known allergens, the U.S. Food and Drug Administration said. The affected Alaskan Cooked and Smoked Salmon is packaged in vacuum bag, sold frozen, and there is no lot code or best by date on a package. Auto giant Ford Motor Co. (F) has issued a recall of about 39,000 2021 Expedition and Lincoln Navigator vehicles due to fire risk. The company has asked the customers of the recalled 2021 Ford Expedition and Lincoln Navigator SUVs to park their vehicles outside and away from structures while it investigates...
RELATED NEWS
Follow RTT