Kinder Morgan Inc. (KMI) released its second quarter results on Thursday, July 22, 2021. The company reported net earnings of $-0.33 per share for the second quarter ending June 30, 2021. Earnings for this past quarter declined 18 percent compared to the same period a year ago.
Kinder Morgan, Inc. was founded in 1936 and is headquartered in Houston, Texas. Kinder Morgan, Inc. operates as an energy infrastructure company in North America. The company operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 segments.
Kinder Morgan's revenue increased 25 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins decreased to 51.81% for the second quarter compared to the same period in the previous year, and operating margins increased to 26.54% over the same period. Net earnings for past trailing twelve months were $1700.0 million, up 956% from the prior year.
Moving on to the balance sheet, Kinder Morgan's cash levels jumped 150% for the second quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 76.87% this past year. The current ratio for Kinder Morgan now stands at 0.85. The company increased shares outstanding by 0.13%.
Shares of KMI are currently trading around $17.47. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 23.26 and price to book ratio of 1.29.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Friday, July 23, 2021.