Kinder Morgan earnings increased in the third quarter of 2026 as the pipeline operator’s expansion project backlog reached a record $14.4 billion. Net income attributable to the company totaled $764 million, up from $628 million a year earlier, as disclosed in an October 21, 2026, 8-K filing.
Key Takeaways
- Adjusted net income rose 22% to $792 million, while adjusted EBITDA increased 9% to $2.18 billion.
- The expansion backlog included $5.4 billion of quarterly additions, with natural gas projects accounting for $13.2 billion of the total.
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Kinder Morgan earnings show higher quarterly profit
The North American energy infrastructure company reported earnings per share of $0.34 and adjusted EPS of $0.35, compared with $0.28 and $0.29, respectively, a year earlier.
Adjusted net income increased from $648 million in the third quarter of 2025 to $792 million. Adjusted EBITDA reached $2.18 billion, compared with $2.00 billion a year earlier.
Executive Chairman Richard D. Kinder attributed the performance to the company’s strategically located assets and long-term, fee-based contracts with financially strong customers. Kinder Morgan primarily transports and stores natural gas through its pipeline and terminal network.
Natural gas dominates the expansion backlog
Kinder Morgan added $5.4 billion of projects to its expansion backlog during the quarter, taking the total to a historic high of $14.4 billion. Natural gas accounted for $13.2 billion of that planned investment pipeline; the backlog does not represent completed projects.
The company ended the quarter with net debt equal to 3.5 times adjusted EBITDA. CEO Kim Dang emphasized maintaining a strong financial position while pursuing capital projects intended to meet increasing energy demand.
Insider purchases totaled $26.2 million and sales totaled $3.0 million over the preceding 12 months, resulting in $23.2 million of net buying.
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