Pipeline operator Kinder Morgan Q2 results miss estimates

on Wednesday missed Wall Street estimates for second-quarter profit and revenue, weighed down by higher costs and weakness in its CO2 segment.Kinder Morgan, which is the largest operator of carbon dioxide pipelines in North America, said adjusted core profit from the transportation of CO2 fell about 6.3% to $164 million, from $175 million last year.

The terminal operator’s quarterly revenue came in at $3.57 billion, well below analysts’ estimates of $4.13 billion, according to LSEG data. CEO Kimberly Dang said the open season is a part of the company’s efforts to meet significant new natural gas demand for electric generation associated with artificial intelligence operations, crypto-currency mining, data centres and industrial re-shoring.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: With US markets closed, Asian shares slip and European shares gainBANGKOK (AP) — Asian shares were mostly lower on Friday after solid gains in Europe overnight, while U.S. markets were closed for the July 4th holiday.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Private Equity Deals Dent European IPO Pipeline as Stocks WaverPrivate equity firms are snapping up initial public offering candidates, eating into a fast-depleting European pipeline at a time when companies are shelving listing plans.
Source: BNNBloomberg - 🏆 83. / 50 Read more »