Kinder Morgan raises dividend and lifts 2026 guidance after strong quarter

Revenue came in at $4.53bn, ahead of the $4.42bn expected, as the project backlog grew to $14.4bn

Kinder Morgan reported third-quarter earnings of $0.35 a share, $0.02 above expectations, on revenue of $4.53bn against forecasts of $4.42bn.

The board raised the quarterly dividend to $0.2975 a share, or $1.19 annualized, a 2% increase from the third quarter of 2025. It is payable November 16, 2026 to shareholders of record as of November 2, 2026.

Chief Executive Kim Dang said the company generated $5bn of operating cash flow and $230m of free cash flow after capital spending and dividends, ending the quarter with net debt to Adjusted EBITDA of 3.5 times. Kinder Morgan now expects full-year Adjusted EBITDA more than 6% above its $8.6bn budget and Adjusted EPS more than 13% above its $1.36 budget, with year-end leverage expected at 3.6 times against a budgeted 3.8 times.

The company added $5.4bn to its expansion project backlog, net of $700m placed in service, bringing the total to $14.4bn, including a record $13.2bn natural gas pipeline backlog. The guidance raise and backlog growth come after an unplanned outage on Tennessee Gas Pipeline's Line 1 in early October, which had raised questions about execution risk across the network.