Kinetik Holdings Q3 revenue beats on record gas volumes

Kinetik Holdings

Yesterday 22:36

Overview
US midstream energy firm's Q3 revenue rose and beat analyst expectations
Adjusted EBITDA increased, driven by record processed gas volumes
Company expects 2026 Adjusted EBITDA at high end of guidance range

Outlook
Kinetik sees 2026 adj EBITDA at high end of $1.04 bln-$1.1 bln range
Company expects 2026 capital expenditures to be about 5% below $560 mln guidance
Kinetik expects Q4 2026 processed gas volumes to reach about 2.2 Bcf/d

Result Drivers
RECORD GAS VOLUMES - Co said Q3 results were driven by record processed gas volumes and strong system operating performance
STRONGER WELL RESULTS - Co said higher gathering and processing fees benefited from stronger-than-expected well results and commodity prices
FAVORABLE COMMODITY MARGINS - Co said Q3 benefited from favorable commodity margins, partly offset by lower residue gas marketing contributions

Company press release: ID:nBwgkSqsa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$569.40 mln
$542.27 mln (7 Analysts)

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil & gas transportation services peer group is "buy"
Wall Street's median 12-month price target for Kinetik Holdings Inc. is $58.00, about 13.3% above its November 4 closing price of $51.17
The stock recently traded at 30 times the next 12-month earnings vs. a P/E of 39 three months ago

Reuters Recommended Reads
Nov 4 - Western Midstream Q3 adjusted EBITDA rises 12% on record gas throughput
Nov 3 - Energy Transfer's Q3 revenue jumps 86%, beats estimates
Nov 3 - MPLX Q3 adjusted EBITDA slightly beats estimates on natgas, NGL growth

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)