HOUSTON (AP) — HOUSTON (AP) — Kinder Morgan Inc. (KMI) on Wednesday reported fourth-quarter profit of $996 million.
On a per-share basis, the Houston-based company said it had profit of 45 cents. Earnings, adjusted for non-recurring gains, came to 39 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The oil and natural gas pipeline and storage company posted revenue of $4.51 billion in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $4.41 billion.
For the year, the company reported profit of $3.06 billion, or $1.37 per share. Revenue was reported as $16.94 billion.
Kinder Morgan expects full-year earnings to be $1.36 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KMI at https://www.zacks.com/ap/KMI
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