By Sabela Ojea

Kinder Morgan said revenue rose in the latest quarter and kept its outlook for the year unchanged, noting that it doesn't expect tariffs to have a significant impact on projects.

The Houston-based energy infrastructure company on Wednesday posted a profit of $717 million, or 32 cents a share, compared with $746 million, or 33 cents a share, for the same period a year earlier.

Stripping out one-time items, earnings per share came in at 34 cents. Analysts polled by FactSet had forecast adjusted earnings of 35 cents a share.

Revenue rose 10% $4.24 billion, in line with Wall Street expectations, according to FactSet.

The company said that it benefited from a strong operational performance and higher financial contributions from its natural gas pipelines and terminals business segments. "The landscape for natural gas continues to be more and more favorable," Executive Chairman Richard D. Kinder said, noting that first-quarter U.S. domestic natural gas production volumes were the highest on record.

The products pipelines business was, however, down mostly due to a turnaround at its condensate processing facility, required every ten years.

Kinder Morgan kept its outlook for 2025 unchanged on its current exposure to tariffs.

"At this point, we do not believe that the tariffs will have a significant impact on project economics," Kinder said. The company began to work on how to mitigate the potential impact of tariffs early in the quarter by preordering critical project components, negotiating caps on cost increases, and securing domestic steel and mill capacity for its larger projects, which represent about two-thirds of its project backlog.

For those projects, the company has locked in the cost of the finished steel pipe and less than 10% is exposed to tariffs, the executive added.

"As has been the case in past periods of economic instability, our company can be a safe haven during the storm," Kinder said. "Looking past this temporary turbulence, we see a bright future based on robust market fundamentals combined with regulatory relief and a commitment to expediting energy infrastructure projects at the federal level," Kinder said.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

April 16, 2025 16:29 ET (20:29 GMT)

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