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Sentiment · FY2026 Q2
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Keith Stanley | Wolfe Research | 13 (8%) |
| Theresa Chen | Barclays | 13 (0%) |
| Jeremy Tonet | JPMorgan | 13 (0%) |
| Michael Blum | Wells Fargo | 11 (0%) |
| Manav Gupta | UBS | 11 (0%) |
| Jean Salisbury | Bank of America | 10 (20%) |
| Zack Van Everen | Tudor, Pickering, Holt | 10 (0%) |
| Jason Gabelman | TD Cowen | 9 (0%) |
| John Mackay | Goldman Sachs | 9 (0%) |
| Spiro Dounis | Citigroup | 5 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Barclays | 2 | 14 (0%) |
| Wolfe Research | 1 | 13 (8%) |
| Goldman Sachs | 3 | 13 (0%) |
| JPMorgan | 1 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $3.97B | -0.1% | $0.30 | +11.1% | 28.9% | 16.8% | $734M |
| FY2025 Q1 | $4.25B | +11.0% | $0.32 | -3.0% | 29.2% | 16.9% | $396M |
| FY2025 Q2 | $4.04B | +12.4% | $0.32 | +23.1% | 28.3% | 17.7% |
| 13 (0%) |
| Wells Fargo | 2 | 12 (0%) |
| UBS | 1 | 11 (0%) |
| Bank of America | 1 | 10 (20%) |
| Tudor, Pickering, Holt | 1 | 10 (0%) |
| $1.00B |
| FY2025 Q3 | $4.15B | +12.8% | $0.28 | 0.0% | 25.6% | 15.1% | $621M |
| FY2025 Q4 | $4.51B | +13.6% | $0.45 | +50.0% | 30.3% | 22.1% | $1.58B |
| FY2026 Q1 | $4.83B | +13.5% | $0.44 | +37.5% | 29.9% | 20.2% | $687M |
| FY2026 Q2 | $4.48B | +10.8% | $0.39 | +21.9% | 30.1% | 19.4% | — |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
Kinder Morgan delivered a record Q1 2026 with EPS up 41% and EBITDA growing 18% year-over-year, as the natural gas demand outlook was strengthened through 2031 driven by LNG, data centers, and industrial growth. Full-year EBITDA guidance was raised by more than 3% above budget excluding the $500 million Monument pipeline acquisition. The expansion backlog reached $10.1 billion, and the Western Gateway pipeline open season succeeded. Balance sheet strengthening continued with credit upgrades, though the carbon capture business was retreating.
Demand | Capex Investment | Competitive Dynamics | Capital Allocation | M&A | Revenue Growth | Cloud & AI | Pricing | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 12 | 7 | 3 | 3 | 3 | 2 | 2 | 2 |
| 2025Q1 | 9 | 7 | 3 | 1 | 3 | 2 | 1 | |
| 2025Q2 | 13 | 11 | 5 | 3 | 1 | 2 | 1 | |
| 2025Q3 | 10 | 13 | 6 | 4 | 1 | 3 | 3 | 1 |
| 2025Q4 | 11 | 8 | 3 | 6 | 2 | 2 | 2 | 1 |
| 2026Q1 | 7 | 9 | 3 | 4 | 2 | 3 | 4 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 12 | 9 | 13 | 10 | 11 | 7 |
| Capex Investment | 7 | 7 | 11 | 13 | 8 | 9 |
| Competitive Dynamics | 3 | 3 | 5 | 6 | 3 | 3 |
| Capital Allocation | 3 | 1 | 3 | 4 | 6 | 4 |
| M&A | 3 | 3 | 1 | 2 | 2 | |
| Revenue Growth | 2 | 1 | 3 | 2 | 3 | |
| Cloud & AI | 2 | 2 | 2 | 3 | 2 | |
| Pricing | 2 | 1 | 1 | 1 | 1 | 4 |
What KMI and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“to complete the JV arrangements with Kinder Morgan as well as execute the transportation agreements with the third-party shippers”
Phillips 66 is finalizing a joint venture with Kinder Morgan on the Western Gateway refined-products pipeline, targeting FID by mid-to-late summer for a 2029 in-service date. Positive read-through for KMI on a new-build growth project.
“Continental dropped rigs earlier this year, but prices are better.”
Continental Resources, a producer on Kinder Morgan's Bakken crude-gathering system, dropped rigs earlier in the year, a modest negative volume read-through though better prices may spur activity.
“with Moody's upgrading us to Baa1, which means we are now the equivalent of BBB+ at each of the 3 rating agencies.”
Moody's upgraded Kinder Morgan to Baa1, aligning KMI at BBB+ equivalent across all three rating agencies.
“KMI and Phillips 66 recently concluded a successful open season on the proposed Western Gateway Pipeline system.”
Kinder Morgan and Phillips 66 completed a successful open season on the proposed Western Gateway Pipeline JV and are negotiating joint-venture terms toward FID, a partner read-through for Phillips 66's refined-products logistics.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
KMI Kinder Morgan | 9 | +13.5% | |
| EPD Enterprise Products Partners L.P. | 5 | -6.7% | |
| OKE ONEOK | 9 | +19.6% | |
| TRGP Targa Resources | 5 | -15.6% | |
| WMB Williams Companies | 6 | -0.6% |