Kinder Morgan (KMI) 10-K Summary — Year Ended Dec 31, 2023
Kinder Morgan filed its annual report for the most recent fiscal year, reporting a decline in revenue compared to the prior year. The company generated substantial operating cash flow and maintained a focus on liquidity and capital allocation.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
Kinder Morgan filed its annual report for the most recent fiscal year, reporting a decline in revenue compared to the prior year. The company generated substantial operating cash flow and maintained a focus on liquidity and capital allocation.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$13.6B
Revenue reported for the fiscal year.
Operating income
$4.3B
Income from operations reported for the year.
Net income
$2.4B
Net income reported for the year.
Operating cash flow
$6.5B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $16.2B | n/a |
| Dec 31, 2022 | $18.1B | +12.2% |
| Dec 31, 2023 | $13.6B | -24.7% |
Business overview
Kinder Morgan is an energy infrastructure company that owns and operates pipelines and terminals. The company's operations are discussed in the management discussion and analysis section, which covers general business trends and segment earnings.
Financial performance
Revenue decreased from the prior year, while operating income and net income were reported at levels that reflect the company's cost structure. Operating cash flow remained strong, supporting ongoing operations and investments.
Material risks
The filing identifies risk factors that could affect the company's business, financial condition, and results of operations. These risks are detailed in Item 1A and include industry, regulatory, and operational uncertainties.
Liquidity and capital
The company discusses its liquidity and capital resources, including short-term liquidity, long-term financing, capital expenditures, and a dividend and stock buy-back program. These elements are managed to support the company's financial stability.
What to watch
Monitor the segment earnings results in the next filing, as they provide insight into the performance of the company's various business lines.