Kinetik Q2 Adjusted EBITDA rises, lifts 2026 outlook

Kinetik Holdings

05/08/2026 22:33

Overview
U.S. midstream operator's Q2 Adjusted EBITDA rose 16% yr/yr to record high
Company raised full-year 2026 Adjusted EBITDA guidance to $1.04 bln-$1.1 bln
Midstream Logistics segment Adjusted EBITDA up 35% yr/yr; Pipeline Transportation down 14%

Outlook
Kinetik raises full-year 2026 Adjusted EBITDA guidance to $1.04 bln-$1.1 bln
Company lifts 2026 capital expenditures guidance to about $560 mln
Kinetik expects momentum to continue into 2027 as curtailments ease and customer activity rises

Result Drivers
SYSTEM PERFORMANCE - Co cited strong operational execution and robust system performance as supporting record Q2 results
MIDSTREAM LOGISTICS GROWTH - Midstream Logistics segment benefited from improved NGL recoveries, condensate yields, optimization, and favorable commodity prices and spreads
PIPELINE TRANSPORTATION DECLINE - Pipeline Transportation segment Adjusted EBITDA fell due to divestiture of EPIC Crude Holdings, partly offset by improved margins and throughput on remaining assets

Company press release: ID:nBwW6Zsqa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
 
$0.64
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 4 "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 $52.00, about 6.8% above its August 4 closing price of $48.68
The stock recently traded at 38 times the next 12-month earnings vs. a P/E of 40 three months ago

Reuters Recommended Reads
Aug 5 - Western Midstream Q2 Adjusted EBITDA rises 19%, lifts 2026 outlook
Aug 3 - ONEOK boosts 2026 forecast as higher NGL volumes boost quarterly profit
Aug 3 - Hess Midstream's Q2 adjusted EBITDA beats on lower operating costs

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(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.)