Kinetik Updated 2023 Adjusted EBITDA Guidance Range To $820M-$860M; 2023 Capital Expenditures Expected To Be At The Top End Of The Company's Guidance Range Of $490M-$540M
Portfolio Pulse from Benzinga Newsdesk
Kinetik has updated its 2023 Adjusted EBITDA guidance range to $820M-$860M and expects 2023 capital expenditures to be at the top end of the company's guidance range of $490M-$540M. The company is on track to achieve its 2023 exit rate guidance of 1.6 Bcf/d of gas processed volumes. It also expects the start-up of the PHP expansion in December. In 2024, Kinetik estimates significant year-over-year Adjusted EBITDA growth with a capital expenditures plan of less than $150 million.
November 08, 2023 | 10:04 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Kinetik's updated guidance and expected increase in gas processed volumes could potentially boost investor confidence. The planned PHP expansion in December and significant EBITDA growth in 2024 also indicate positive future prospects.
The updated guidance and expected increase in gas processed volumes indicate that Kinetik is on track to meet its targets. The planned PHP expansion and significant EBITDA growth in 2024 further suggest that the company is well-positioned for future growth, which could potentially boost its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100