Kinder Morgan Energy Partners Earnings: Here’s Why Investors Don’t Like These Results
Kinder Morgan Energy Partners LP (NYSE:KMP) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.72%.
Kinder Morgan Energy Partners LP Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 32.43% to $0.49 in the quarter versus EPS of $0.37 in the year-earlier quarter.
Revenue: Rose 62.9% to $3.02 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Kinder Morgan Energy Partners LP reported adjusted EPS income of $0.49 per share. By that measure, the company missed the mean analyst estimate of $0.6. It beat the average revenue estimate of $2.69 billion.
Quoting Management: Chairman and CEO Richard D. Kinder said, “EPB had a solid second quarter with total asset earnings before DD&A and certain items of $285 million, up 4 percent from $275 million for the same period last year. EPB’s results were driven by a full quarter contribution in 2013 from the drop down of Cheyenne Plains Pipeline from its general partner on May 24, 2012, along with an Elba Express expansion project coming online.”
Key Stats (on next page)…