Reported 3 months ago
U.S. pipeline and terminal operator Kinder Morgan reported a second-quarter profit and revenue that missed Wall Street estimates. Despite this, the company remains positive about the future of natural gas demand, particularly driven by data center electricity needs. The company highlighted discussions on potential opportunities related to power demand, including data center demands, while expressing confidence in natural gas reliability compared to other renewable sources. Despite a decline in natural gas prices, Kinder Morgan's adjusted core profit from the natgas pipeline segment increased, while profit from CO2 transportation fell. The company also launched a project to increase pipeline capacity to meet growing demands. Kinder Morgan's adjusted profit and revenue for the quarter fell short of analysts' expectations, leading to a 2.9% decrease in shares during extended trade.
Source: YAHOO