Kinder Morgan (KMI) Q3 Earnings Beat By A Penny, Fall Y/Y
Zacks Investment Research | Oct 19, 2016 09:25PM ET
Kinder Morgan Inc. (NYSE:KMI) reported third-quarter 2016 earnings of 16 cents a share from continuing operations. The bottom line beat the Zacks Consensus Estimate of 15 cents but decreased from 19 cents reported a year ago.
Total revenue for the quarter declined 10.2% year over year to $3,330 million. The reported figure also came in below the Zacks Consensus Estimate of $3,370 million.
Dividend
Kinder Morgan maintained its quarterly dividend of 12.5 cents a share (50 cents a share annualized). The dividend is payable on Nov 15, to shareholders on record as of Nov 1, 2016.
Operational Highlights
Operating expenses in the quarter were $2,448 million, down 18% from $2,986 million spent in the third quarter of 2015.
Operating income came in at $882 million, down 22.3% from the comparable quarter a year ago. Operating margin was approximately 26.5% compared with 19.4% in the year-ago quarter.
KINDER MORGAN Price, Consensus and EPS Surprise
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