Companies Kinder Morgan Inc FollowJuly 19 (Reuters) - Pipeline and terminal operator Kinder Morgan (KMI.N) on Wednesday posted lower-than-expected second-quarter revenue, hurt by lower commodity prices.
Kinder Morgan faced lower commodity prices, higher interest expense in the second quarter as well as higher sustaining capital expenditures versus the prior year period, President Kim Dang said.
The Houston-based company said earnings from its products pipelines fell about 4.3% to $286 million, while earnings from the transportation of CO2 fell about 17.4% to $175 million, due to lower realized prices.
Kinder Morgan's revenue fell about 32% to $3.50 billion in the quarter, and missed estimates of $4.55 billion, according to Refinitiv data.
Reporting by Tanay Dhumal in Bengaluru; Editing by Vinay Dwivedi and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.
Persons:
Kinder Morgan, Kim Dang, Tanay, Vinay Dwivedi, Shounak
Organizations:
Kinder Morgan Inc, Kinder, Thomson
Locations:
China, Houston, Bengaluru