KINDER MORGAN, INC. Earnings Summary — Q1 2026

• Revenue for Q1 2026 reached $4.83 billion, a 13.8% increase year-over-year from Q1 2025.
• Net income attributable to common shareholders rose significantly to $976 million, up 36.1% compared to the prior year period.
• Operating income improved to $1.44 billion, reflecting strong operating leverage as expense growth remained below revenue growth.
• The company maintains its position as a mission-critical infrastructure provider, handling 40% of U.S. natural gas consumption.
• Interest expenses decreased slightly to $430 million from $442 million in the previous quarter, contributing to bottom-line performance.
• Gross profit margins remain robust at approximately 63.8% for the quarter.
• The transition towards higher-quality earnings and self-funding capital expenditures is reflected in the stable share count of 2,225 million.

Management remains focused on Distributable Cash Flow (DCF) as the primary performance indicator, with a commitment to maintaining an investment-grade balance sheet and returning excess earnings to shareholders.

Improving

Year-over-year revenue and net income growth accelerated to double digits in Q1 2026 compared to the more volatile performance seen in 2024.

The company expects to benefit from mission-critical natural gas demand and is increasingly pivoting toward energy transition projects including renewable natural gas (RNG) and carbon sequestration.