Earnings are out as of 4/21/98! Please see the standard quote below from ENP Chairman. Okay savy investors, let's see if you can identify what is very obviously wrong withthis picture....? =================================================
``We are delighted with our results for the first quarter, which doubled on a per unit basis over the first quarter of 1997 and constitute the highest net income in the history of the company,'' said Richard D. Kinder, Chairman and CEO of Kinder Morgan. ``All of our business segments increased their earnings substantially over the comparable period in 1997, with our Pacific operations (formerly Santa Fe Pacific Pipeline) contributing significantly to the bottom line even though their assets were only a part of the Kinder Morgan family for the month of March. Based on this strong financial performance, which we expect to continue, we anticipate reevaluating our quarterly distribution level at the end of the second quarter.''
Please explain your interpretation of what is wrong with this picture. I thought that this looked too good to be true when I saw this tremendous increase relative to previous quarters in EPS , but am not familiar enough with details to draw conclusions. Would appreciate your insight. Thanks.