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Kinder Morgan posts higher Q3 earnings amid Trans Mountain sale

Kinder Morgan Inc. on Oct. 17 reported third-quarter adjusted EBITDA of $1.86 billion, an increase from $1.75 billion in the prior-year period.

The S&P Global Market Intelligence consensus estimate of adjusted EBITDA was $1.86 billion.

The company's distributable cash flow in the quarter was $1.09 billion, up from $1.05 billion a year earlier.

Kinder Morgan reported net income of $1.01 billion, an increase from $387 million a year earlier.

The company said contributions from Kinder Morgan Canada Ltd. were down 36% for the third quarter compared to the same period of 2017, mainly driven by the sale of the Trans Mountain oil pipeline system and its C$7.4 billion expansion project to the government of Canada for C$4.5 billion.