Kinetik Holdings Earnings Call Transcripts
Fiscal Year 2026
-
Record Q1 adjusted EBITDA exceeded guidance, driven by strong commercial execution and effective hedging against Waha price volatility. 2026 guidance affirmed despite higher curtailments, with growth focused on New Mexico and new Gulf Coast/external market opportunities.
Fiscal Year 2025
-
2025 results were impacted by commodity volatility and underperformance, but strategic asset expansions, contract restructurings, and commercial wins position the business for 7% adjusted EBITDA growth in 2026. Capital allocation is now growth-focused, with disciplined leverage and annual dividend increases.
-
Q3 results showed strong project execution but were impacted by commodity price volatility, delays at King's Landing, and producer shut-ins. Guidance for 2025 EBITDA was revised lower, but long-term growth is supported by new projects, improved forecasting, and disciplined capital allocation.
-
Q2 adjusted EBITDA reached $243M, with guidance for 2025 revised to $1.03–$1.09B due to project delays and commodity price headwinds. Major growth projects like King's Landing and ECCC pipeline are on track, supporting a strong multi-year outlook and continued capital discipline.
-
First quarter adjusted EBITDA grew 7% year-over-year to $250 million, with strong progress on strategic projects and a $500 million share repurchase program announced. Full-year guidance is affirmed, though management expects results below the midpoint due to commodity headwinds and customer schedule changes.
Fiscal Year 2024
-
2024 saw record earnings, major acquisitions, and a 16% rise in Adjusted EBITDA, with leverage reduced to 3.4x. 2025 guidance targets 15% EBITDA growth, 20% volume growth, and significant project ramp-up, while maintaining capital discipline and hedging commodity exposure.
-
Record Adjusted EBITDA and gas volumes were achieved despite negative Waha prices and curtailments. Guidance for 2024 was raised, major pipeline and sustainability projects advanced, and capital discipline maintained, with a strong outlook and increased dividend.
-
Second quarter results showed strong year-over-year growth in Adjusted EBITDA and volumes, driven by strategic acquisitions and expansions in New Mexico. 2024 guidance was raised for both EBITDA and CapEx, with significant growth expected from new projects and integration of Durango assets.