Filing Flows › Kinder Morgan (KMI) › Q1 2025
Kinder Morgan (KMI) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 18, 2025
Kinder Morgan (KMI) reported revenue of $4.2B for the first quarter 2025 (Q1 2025), +10% from a year earlier and +6% from the quarter before. Operating margin was 27.0%, net earnings $717M (16.9% of revenue).
Kinder Morgan, Q1 2025: revenue $4.2B (+10% year over year), operating margin 27.0%, net earnings $717M, operating cash flow $1.2B. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.2B | +6% | +10% |
| Operating profit | $1.1B | +3% | -6% |
| Net earnings | $717M | +7% | -4% |
| Operating cash flow | $1.2B | -23% | -2% |
| Free cash flow | $396M | -46% | -31% |
What changed
Revenue was $4.2B in Q1 2025, up 10% year over year and up 6% from the previous quarter. Total services was the largest line at 47% of revenue. Total services added $0.11B year over year (up 6%), 28% of the total change. Other declined 50%.
Operating profit was $1.1B, a 27.0% margin (down 4.8 points year over year). Operating profit fell $0.08B even though revenue rose $0.40B versus a year earlier, so costs grew faster than sales. Total costs grew 18% against revenue growth of 10%. The fastest-growing cost line was Cost of revenue (+33%). Net earnings were $0.72B, down 4% year over year. The effective tax rate was 20.0%.
Operating cash flow was $1.2B (down 2% year over year), 156% of net income including minority interests. Non-cash charges added back $0.61B of depreciation and amortization. Working capital and other items used $0.19B. Capital expenditures of $0.77B left free cash flow of $0.40B.
Questions
What was Kinder Morgan's revenue in the first quarter 2025?
Kinder Morgan (KMI) reported revenue of $4.2B for the first quarter 2025 (Q1 2025), +10% from a year earlier and +6% from the quarter before.
Was Kinder Morgan profitable in the first quarter 2025?
Operating profit was $1.1B (27.0% of revenue) and net earnings $717M.
Source: Kinder Morgan 10-Q on SEC EDGAR.