Kinder Morgan Turns To Profit In Q2

(RTTNews) - Kinder Morgan Inc. (KMI) reported that its second-quarter net income attributable to the company was $277 million or $0.27 per class P share, compared to a net loss of $126 million or $0.15 per class P share in the comparable quarter last year.

Revenues for the quarter rose to $3.38 billion from $2.17 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.33 per share on revenues of $3.14 billion for the quarter. Analysts' estimates typically exclude special items.

As previously announced, KMI increased its expected declared dividend for 2013 to $1.60 per share from its 2013 published annual budget of $1.57 per share following the closing of the Copano acquisition. KMI's revised expected declared dividend per share represents an increase of 14 percent over its 2012 declared dividend of $1.40 per share.