Kinder Morgan has announced a 49% surge in net income for the fourth quarter ending 31 December 2025 (Q4 2025), with figures of $996m compared to $667m during the same period in 2024.
The energy infrastructure company reported an increase in adjusted net income to $866m, a 22% rise from $708m a year prior.
Adjusted net income attributable to common stock also climbed to $862m, reflecting a 22% increase from $704m in Q4 2024.
Additionally, adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to $2.2bn for Q4 2025, up 10% compared to $2.06bn in the same quarter of the previous year.
Looking ahead to 2026, Kinder Morgan has budgeted for net income of $3.1bn, aligning with 2025 figures when excluding gains from asset sales treated as certain items.
The company expects a 5% increase in both adjusted net income and adjusted earnings per share from 2025 levels.
Additionally, Kinder Morgan anticipates adjusted EBITDA of $8.6bn and aims to conclude 2026 with a net debt-to-adjusted EBITDA ratio of 3.8 times.
Furthermore, for the full year 2025, net income attributable to Kinder Morgan increased to $3.05bn, up 17% from $2.61bn in 2024.
Adjusted net income attributable to the company rose to $2.9bn, a 13% increase from $2.57bn in 2024.
Adjusted net income attributable to common stock advanced to $2.88bn, up 13% from $2.55bn in 2024. Adjusted EBITDA totalled $8.39bn for 2025, up 6% from $7.93bn in 2024.
In late December 2025, Kinder Morgan closed the sale of its non-operated stake in BPX (Eagle Ford) Gathering for $396m, resulting in a pre-tax gain of $123m and equating to around 8.5-times its share of EagleHawk’s EBITDA for 2025.
Kinder Morgan executive chairman Richard D. Kinder said: “Few would have predicted that the war in Ukraine would soon be entering its fourth year. Throughout the conflict, the United States has been a vital guarantor of European energy security, as America continues to lead the world in exports of liquefied natural gas (LNG). Our company has been proud to play a key role in that leadership, delivering more than 40% of the natural gas feedstock to US LNG facilities.
“It is particularly gratifying to maintain leadership in our sector by staying true to our original vision: owning midstream energy assets anchored by long-term, take-or-pay, fee-based contracts with creditworthy customers. I have no doubt that we will continue delivering strong growth, reliable performance and sustained value for many years to come.”
In January 2025, the company signed an agreement with Outrigger Energy II to acquire a natural gas gathering and processing system in the Bakken formation in North Dakota for $640m.
