Kinder Morgan, Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Kinder Morgan, Inc. (KMI) announced earnings for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $0.67 billion, or $0.29 per share. This compares with $1.41 billion, or $0.62 per share, in last year's first quarter.

Excluding items, Kinder Morgan, Inc. reported adjusted earnings of $0.73 billion or $0.32 per share for the period.

Analysts on average had expected the company to earn $0.28 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 17.7% to $4.29 billion from $5.21 billion last year.

Kinder Morgan, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $0.67 Bln. vs. $1.41 Bln. last year. -EPS (Q1): $0.29 vs. $0.62 last year. -Analyst Estimates: $0.28 -Revenue (Q1): $4.29 Bln vs. $5.21 Bln last year.