Kinetik Holdings Inc reports results for the quarter ended in January 1 - Earnings Summary

Kinetik Holdings

07/11/2024 14:57

* Kinetik Holdings Inc  KNTK.N  reported quarterly adjusted
earnings of 93 cents​​ per share for the quarter ended January
1, higher than the same quarter last year, when the company
reported EPS of 21 cents.  The mean expectation of
eight analysts for the quarter was for earnings of 45 cents per
share. Wall Street expected results to range from 20 cents to 78
cents per share.
    * Revenue rose 20% to $396.36 million from a year ago;
analysts
expected $331.21 million. 
    * Kinetik Holdings Inc's reported EPS for the quarter was 43
cents​.
    * The company reported quarterly net income of $25.76
million.
    * Kinetik Holdings Inc shares had risen by 16.0% this
quarter and
gained 57.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 16.1%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 6 "strong buy" or "buy," 7
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the oil & gas
transportation services peer group is also "buy"

Wall Street's median 12-month price target for Kinetik Holdings
Inc is $47.00 
This summary was machine generated from LSEG data November 7 at
02:56 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2024      0.45           0.93           Beat
 Jun. 30 2024      0.42           0.54           Beat
 Mar. 31 2024                     0.12           
 Dec. 31 2023      0.47           1.70           Beat