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Kinder Morgan misses 1Q profit forecasts

HOUSTON (AP) _ Kinder Morgan Inc. (KMI) on Wednesday reported first-quarter earnings of $440 million.

The Houston-based company said it had profit of 18 cents per share. Earnings, adjusted for non-recurring gains, came to 17 cents per share.

The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.

The oil and natural gas pipeline and storage company posted revenue of $3.42 billion in the period, which topped Street forecasts. Four analysts surveyed by Zacks expected $3.15 billion.

Kinder Morgan shares have increased slightly more than 1 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed slightly more than 4 percent. In the final minutes of trading on Wednesday, shares hit $20.98, a climb of 9.5 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KMI at https://www.zacks.com/ap/KMI


Keywords: Kinder Morgan, Earnings Report