Kinder Morgan shares are trading lower after the company reported worse-than-expected Q3 financial results and said it expects FY24 Adj. EBITDA and Adj. EPS to be below budget.
Portfolio Pulse from Benzinga Newsdesk
Kinder Morgan shares declined following the release of disappointing Q3 financial results. The company also projected that its FY24 Adjusted EBITDA and Adjusted EPS would fall below budget expectations.
October 16, 2024 | 8:37 pm
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NEGATIVE IMPACT
Kinder Morgan's stock is under pressure after the company reported Q3 results that missed expectations and provided a downbeat forecast for FY24 Adjusted EBITDA and EPS.
The negative earnings report and the forecast for FY24 being below budget are likely to weigh on investor sentiment, causing a short-term decline in KMI's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100