Kinder Morgan expects 2026 adjusted EPS more than 13% above budget
KMI•Kinder Morgan expects 2026 adjusted EPS to exceed budget by more than 13% and adjusted EBITDA by more than 6%. Its $14.4 billion committed project backlog is focused mainly on power generation and utility demand.
1. 2026 outlook and backlog
Kinder Morgan expects 2026 adjusted EPS to be more than 13% above budget and adjusted EBITDA to be more than 6% above budget. Year-end net debt-to-adjusted EBITDA is forecast at approximately 3.6 times, about 0.2 times below budget. The company expects annual growth capital spending of approximately $4 billion over the next few years. Its $14.4 billion committed project backlog is more than 75% focused on power generation and utility demand and approximately 15% on LNG demand; about 20% is scheduled to enter service between the fourth quarter of 2026 and year-end 2027.
