The US group Kinder Morgan, Inc., a key player in energy infrastructure, announced a marked improvement in its results for the second quarter of 2025, posting net profit of $715mn (€662mn), an increase of 24% compared to the same period last year, according to figures released by the company on July 16. Adjusted EBITDA reached $1,972mn (€1,825mn), up 6% year-on-year.
Backlog growth and strategic investments
The company placed $750mn of new projects in service and added $1.3bn to its project backlog, which now stands at $9.3bn (€8.61bn) as of June 30, a 6% increase from the previous quarter. According to Executive Chairman Richard D. Kinder, this dynamic is driven by growing demand for natural gas, supported by the rise of US liquefied natural gas (LNG) exports and a favourable federal regulatory environment.
The company anticipates that total natural gas demand will increase by 20% by 2030, driven in particular by LNG facilities and power generation. Nearly 93% of the active project portfolio is related to the natural gas sector. Long-term contracts secured by the company for gas delivery to LNG facilities are expected to reach nearly 12bn cubic feet per day by 2028.
Financial results and 2025 outlook
Quarterly revenue amounted to $4,042mn (€3,741mn), compared with $3,572mn last year. Earnings per share reached $0.32, an increase of 23%. Management stated that cash flow from operations stood at $1.6bn (€1.48bn) and free cash flow after investments at $1.0bn (€925mn).
For the full year, Kinder Morgan forecasts net profit of $2.8bn (€2.59bn) and adjusted EBITDA of $8.3bn (€7.68bn), excluding contributions from the recent acquisition of Outrigger Energy II. The company also expects to distribute an annual dividend of $1.17 per share, up 2%.
Expansion of gas infrastructure and new financings
The quarter saw several investment decisions in strategic infrastructure, notably the extension of the Trident Intrastate Pipeline project to $1.8bn (€1.67bn) and the launch of new transportation contracts with major LNG sector clients. At the same time, the company issued $1.85bn (€1.71bn) in new fixed-rate bonds to refinance existing debt on terms described as advantageous by management.
Kinder Morgan’s credit rating was raised to “positive outlook” by Moody’s in June, citing the group’s financial strength, consistent growth and controlled debt policy. According to Tom Martin, President of Kinder Morgan, increased volumes transported by the natural gas pipelines and terminals segments offset the decline recorded on certain gathering assets, particularly in the Haynesville basin.
The company stated that the share of its project portfolio potentially affected by rising tariffs remains limited, with pre-ordering strategies and securing domestic industrial capacity for its major projects.
