Earnings Releases·Nov 4, 2026, 5:30 PM ET

Kinetik Holdings Inc. — Third Quarter 2026 Earnings Summary

Net income rose to $50.9 million for Q3 2026 from $15.5 million in the prior year period, while Adjusted EBITDA increased 15% year-over-year to $278.1 million; full-year 2026 Adjusted EBITDA guidance is expected to reach the high end of the $1.04 billion to $1.1 billion range.
Distributable Cash Flow and Free Cash Flow for the quarter reached $213.7 million and $87.5 million respectively, up significantly from $158.5 million and $13.9 million in Q3 2025, supported by record processed gas volumes of 1.94 Bcf/d.
Full-year 2026 capital expenditures are projected to be approximately 5% below the previous August guidance of $560 million, with major projects including Kings Landing II (mid-2028 in-service) and ECCC Pipeline expansion (mid-2027 in-service) on track.
Strategic growth continues with over 30,000 gross acres dedicated under new agreements in New Mexico and Texas, a 25% capacity upsizing at Kings Landing II, and secured firm access to Gulf Coast residue gas pricing commencing in 2027.
The Company maintains a leverage ratio of 3.70x and net debt of $3.94 billion, with a dividend coverage ratio of 1.61x for the quarter and a quarterly dividend of $0.81 per share.