Kinder Morgan: A $10.1 Billion Backlog Signals Capacity Growth Opportunities!

Kinder Morgan reported a strong first quarter in 2026, marked by significant growth across all business segments and a continued positive outlook for natural gas demand in the U.S. The company noted a 41% increase in adjusted EPS and an 18% growth in EBITDA compared to the first quarter of 2025. This performance was largely driven by heightened natural gas demand due to weather events like Winter Storm Fern and sustained demand from the Northeast, coupled with broader structural growth in LNG feed gas and gas-fired power generation. Kinder Morgan highlights that natural gas demand is expected to rise 27% by 2031, with pipeline utilization already exceeding 90%, underscoring the firm’s pipeline expansion opportunities, backed by a backlog of $10.1 billion in projects aimed at addressing future capacity needs.