KMI Kinder Morgan (KMI) Q1 FY26 earnings call
Kinder Morgan delivered a remarkable first quarter, significantly outperforming expectations across all segments, primarily driven by robust natural gas demand and strategic asset utilization. The company is aggressively expanding its project backlog, focusing on high-return opportunities in natural gas and refined products, while maintaining a strong balance sheet and disciplined capital allocation. Management remains confident in its ability to execute on its $10.1 billion project backlog and continue growing shareholder value.
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KMI operating KPIs by quarter
| KPI | Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | Jun 2026 Q2 FY26 | Sep 2026 Q3 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|
| Backlog | $9.3BOur project backlog increased from $8.8 billion to $9.3 billion during the quarter.Source: earnings call transcript | $9.3BOur expansion backlog remained flat at $9.3 billion with the approximately $500 million of new projects offset by projects placed in service.Source: earnings call transcript | $9.6BDuring the quarter, our backlog decreased from approximately $10.1 billion to $9.6 billion.Source: earnings call transcript | $14.4BI think at this point, with the $14.4 billion backlog, hopefully we've established some credibility about being able to bring these things to fruition.Source: earnings call transcript | +50% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.