Shares of Kinder Morgan (NYSE:KMI) fell slightly following Wednesday’s closing bell after the energy infrastructure giant missed Wall Street’s estimates for Q4 distributable cash flow (DCF) per share.
The stock was down 1.7% in after-hours trading after closing 1.5% lower on Wednesday.
The company reported DCF per share of 52c, just below the consensus estimates of 53c. Revenue stood at $4.04 billion in the quarter, also below the estimated $4.4 billion.
Kinder Morgan’s adjusted earnings per share (EPS) also missed the mark, with the company reporting 28c, while analysts were looking for 30c per share.
Adjusted EBITDA stood at $1.93 billion, compared with analysts’ expectations of $1.99 billion.
Net income attributable to KMI was reported at $594 million, down from the $670 million in the same quarter a year earlier.
“As we continue to implement a business model that relies on stable, fee-based assets in the energy infrastructure space, we generated substantial cash in 2023, with net income of $2.4 billion and Adjusted EBITDA of $7.6 billion for the year,” said Executive Chairman Richard D. Kinder.
“The company consistently exercises disciplined capital allocation based on conservative assumptions with high return thresholds while maintaining a strong balance sheet. At the same time, we are making prudent investments in the energy transition,” continued Kinder.