Filing Flows › Kinder Morgan (KMI) › Q2 2026
Kinder Morgan (KMI) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 24, 2026
Kinder Morgan (KMI) reported revenue of $4.5B for the second quarter 2026 (Q2 2026), +11% from a year earlier and -7% from the quarter before. Operating margin was 30.1%, net earnings $867M (19.4% of revenue).
Kinder Morgan, Q2 2026: revenue $4.5B (+11% year over year), operating margin 30.1%, net earnings $867M, operating cash flow $2.0B. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.5B | -7% | +11% |
| Operating profit | $1.3B | -7% | +17% |
| Net earnings | $867M | -11% | +21% |
| Operating cash flow | $2.0B | +31% | +19% |
| Free cash flow | $978M | +42% | -2% |
What changed
Revenue was $4.5B in Q2 2026, up 11% year over year and down 7% from the previous quarter. Services was the largest line at 55% of revenue. Product sales added $0.42B year over year (up 57%), 97% of the total change. Other declined 10%.
Operating profit was $1.3B, a 30.1% margin (up 1.6 points year over year). Of the extra revenue versus Q2 2025, 45% reached operating profit, above the 29% margin then. Total costs grew 8% against revenue growth of 11%. The fastest-growing cost line was Cost of revenue (+16%). Net earnings were $0.87B, up 21% year over year. The effective tax rate was 23.3%.
Operating cash flow was $2.0B (up 19% year over year), 219% of net income including minority interests. Non-cash charges added back $0.62B of depreciation and amortization. Working capital and other items added $0.45B. Capital expenditures of $1.0B left free cash flow of $1.0B.
Questions
What was Kinder Morgan's revenue in the second quarter 2026?
Kinder Morgan (KMI) reported revenue of $4.5B for the second quarter 2026 (Q2 2026), +11% from a year earlier and -7% from the quarter before.
Was Kinder Morgan profitable in the second quarter 2026?
Operating profit was $1.3B (30.1% of revenue) and net earnings $867M.
Source: Kinder Morgan 10-Q on SEC EDGAR.