# Kinder Morgan Q3 2026 Earnings Call

> Kinder Morgan boosts project backlog to $14.4 billion with $5.4 billion in new gas projects.
- Title: Kinder Morgan Q3 2026 Earnings Call · BigGo Finance | Shortify
- Summary: Kinder Morgan boosts project backlog to $14.4 billion with $5.4 billion in new gas projects. Kinder Morgan lifted its project backlog to a record $14.4…
- Keywords: kinder morgan, seattle, nfl, q3 2026, project backlog, gas projects, hyperscaler, seattle utilities, seattle gas, finance, markets, Kinder
- Source: BigGo Finance — https://finance.biggo.com/news/US_KMI_2026-10-21
- Author: BigGo Finance
- Published: 2026-10-21T23:14:28+00:00
- Read time: 1 min
- Topics: kinder morgan, seattle, nfl, q3 2026, project backlog, gas projects, hyperscaler, seattle utilities, seattle gas, finance, markets
## Kinder Morgan Q3 2026 Earnings Call
Kinder Morgan posted record third quarter earnings with $5.4 billion of new projects lifting its project backlog to $14.4 billion.

> Last call, there was some skepticism about whether we could really bring these projects along
## New Projects
Southeast Connector and Permian Link joint ventures represent $4.7 billion of Kinder Morgan's capital with 20-year take-or-pay contracts.
## Financial Results
Adjusted EPS rose 21% year-over-year to $0.35 with adjusted EBITDA climbing 9% to $2.18 billion.
## Full-Year Guidance
Management expects full-year 2026 adjusted EBITDA to beat budget by more than 6% and adjusted EPS by more than 13%.
## Project Details
Southeast Connector delivers 2.6 Bcf/d of natural gas to the Southeast with potential demand of 8 Bcf/d.
## Permian Link
Permian Link moves Permian gas north to Texas Panhandle for growing power demand with an A-rated hyperscaler.

> Permian Link is contracted with an A-rated hyperscaler
## Growth Runway
New projects extend Kinder Morgan's growth runway into 2030-2032 with $300 million Western Gateway project sanctioned.
## Operational Highlights
Terminals segment set record export dock volumes of 427,000 bbl/d up 39% from previous year.
## 2026 Outperformance
2026 outperformance included $225 million non-recurring items and $175 million from commodity prices above budget.
## 2027 Guidance
Management declined to preview 2027 guidance but cautioned 2026 outperformance items unlikely to repeat.
## Shadow Backlog
Kinder Morgan's shadow backlog may convert to signed projects with more opportunities beyond formal backlog.
## What's Next
Kinder Morgan expects to fund 100% of joint-venture capital from balance sheet while maintaining JV ratings.
## Key takeaway

Kinder Morgan lifted its project backlog to a record $14.4 billion including $5.4 billion in new gas projects tied to southeast utilities and an A-rated hyperscaler.