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

Kinetik Holdings

07/08/2024 23:28

* Kinetik Holdings Inc  KNTK.N  reported quarterly adjusted
earnings of 54 cents​​ per share for the quarter ended in June,
higher than the same quarter last year, when the company
reported EPS of 41 cents.  The mean expectation of nine analysts
for the quarter was for earnings of 42 cents per share. Wall
Street expected results to range from 28 cents to 71 cents per
share.
    * Revenue rose 21.4% to $359.46 million from a year ago;
analysts
expected $337.41 million. 
    * Kinetik Holdings Inc's reported EPS for the quarter was 54
cents​.
    * The company reported quarterly net income of $37.19
million.
    * Kinetik Holdings Inc shares had fallen by 2.3% this
quarter and
gained 21.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 8.9%
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 $44.12 
This summary was machine generated from LSEG data August 7 at
10:27 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
 Jun. 30 2024      0.42           0.54           Beat
 Mar. 31 2024      0.43           0.12           Missed
 Dec. 31 2023      0.47           1.70           Beat
 Sep. 30 2023      0.58           0.21           Missed