Kinetik Holdings Inc

Latest Results (31.12.2024):

Net Income and EBITDA

Kinetik Holdings Inc. reported a net income of $83.7 million for the third quarter of 2024, marking a significant 94% increase compared to the same period last year. The company also achieved an Adjusted EBITDA of $265.7 million, reflecting a 23% year-over-year growth. This performance underscores the company's strong operational execution and strategic initiatives.

Revenue and Cash Flow

For the third quarter of 2024, Kinetik Holdings Inc. generated a Distributable Cash Flow of $184.2 million and a Free Cash Flow of $164.7 million. These figures highlight the company's robust cash generation capabilities, supporting its financial stability and growth prospects.

Dividend Increase

Kinetik Holdings Inc. announced an increase in its quarterly cash dividend to $0.78 per share for the third quarter ended September 30, 2024. This represents a 4% increase compared to the previous quarterly dividend, reflecting the company's commitment to returning value to its shareholders.

Guidance and Outlook

The company raised its full-year 2024 Adjusted EBITDA guidance range to $970 million to $1 billion, indicating a nearly 20% growth at the revised midpoint year-over-year. This upward revision demonstrates Kinetik Holdings Inc.'s confidence in its operational performance and future growth trajectory.

Strategic Developments

During the third quarter of 2024, Kinetik Holdings Inc. increased its equity interest in EPIC Crude Holdings, LP to 27.5%. Additionally, the company announced a new large diameter, high-pressure pipeline project to enhance its system's processing capacity, further positioning itself for long-term success in the energy sector.