Kinder Morgan (NYSE:KMI) turned in a mixed performance for the first quarter, with revenue outpacing Wall Street expectations while earnings landed just shy of forecasts. The company also reaffirmed its full-year outlook, signaling steady operational momentum ahead. Currently, shares are up more than 2% intra-day.

The pipeline operator reported adjusted earnings of $0.34 per share for the quarter, narrowly missing the consensus projection of $0.35. Meanwhile, revenue rose to $4.24 billion, topping the anticipated $4.08 billion.

Performance in the natural gas pipelines segment stood out, supported by stronger returns from the Texas Intrastate system and Tennessee Gas Pipeline. Transport volumes for natural gas climbed 3% year-over-year, helped by higher demand from LNG exports and power generation.

Looking ahead, Kinder Morgan maintained its 2025 guidance. The company continues to forecast adjusted earnings per share of $1.27—just under the $1.28 market estimate. It plans to raise its annual dividend to $1.17 per share, a modest 2% increase over 2024. Adjusted EBITDA is expected to grow 4% year-over-year to $8.3 billion, reflecting continued investment in its infrastructure network.