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Kinder Morgan: 1Q Earnings Snapshot

Kinder Morgan: 1Q Earnings Snapshot

Associated Press

HOUSTON (AP) _ Kinder Morgan Inc. (KMI) on Wednesday reported first-quarter profit of $556 million.

The Houston-based company said it had net income of 24 cents per share. Earnings, adjusted for non-recurring costs, were 25 cents per share.

The results met Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was also for earnings of 25 cents per share.

The oil and natural gas pipeline and storage company posted revenue of $3.43 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $3.64 billion.

Kinder Morgan shares have climbed 28 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 16 percent. In the final minutes of trading on Wednesday, shares hit $19.69, a climb of 23 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KMI at https://www.zacks.com/ap/KMI