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Kinder Morgan tops second-quarter profit estimates on higher natural gas volumes
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The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational. July 22 (Reuters) - U.S. pipeline operator Kinder Morgan beat Wall Street expectations for second-quarter profit on Wednesday, helped by higher volumes of natural gas transported through its pipelines. U.S. pipeline companies are gaining from booming oil and gas output in the Permian Basin and rising natural gas demand due to record LNG exports and surging electricity use from AI operations, cryptocurrency mining and data centers. The company said it transported about 47,886 billion British thermal units (Btu) of natural gas per day in the quarter, compared with 44,818 billion Btu per day in the year-ago period. The Houston, Texas-based firm posted an adjusted profit of 37 cents per share for the three months ended June 30, compared with analysts' estimate of 32 cents per share, according to data compiled by LSEG. (Reporting by Varun Sahay in Bengaluru; Editing by Diti Pujara)
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