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Kinetik Holdings Inc.

Kinetik Holdings Inc.

NASDAQ•KNTK
CEO: Mr. Jamie W. Welch
Sector: Energy
Industry: Oil & Gas Midstream
Listing Date: 2018-11-13
Kinetik Holdings Inc. operates as a midstream company in the Texas Delaware Basin. The company operates through two segments, Midstream Logistics and Pipeline Transportation. It provides gathering, transportation, compression, processing, stabilization, treating, storage, and transportation services for companies that produce natural gas, natural gas liquids, and crude oil; and water gathering and disposal services. The company was founded in 2017 and is based in Houston, Texas.
Contact Information
2700 Post Oak Boulevard, Suite 300, Houston, TX, 77056-4400, United States
713-621-7330
www.kinetik.com
Market Cap
$2.37B
P/E (TTM)
38.9
vs Industry 15.5
Dividend Yield (TTM)
8.1%
52W High
$67.60
52W Low
$35.74
52W Range
9%
3.4
F-Score
Modified Piotroski Analysis
Based on 9-year fundamentals
Weak • 3.4 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2024

Financial Dashboard

Q2 2025 Data

Revenue

$426.74M+18.72%
4-Quarter Trend

EPS

$0.38-29.63%
4-Quarter Trend

FCF

$210.55M+146.00%
4-Quarter Trend

2025 Q2 Earnings Highlights

Release Date: Aug 8, 2025

Key Highlights

Revenue Growth Strong Total operating revenues reached $870.0M for six months, marking a 24% increase driven by acquisitions.
Adjusted EBITDA Rises Non-GAAP Adjusted EBITDA grew 5% to $493.0M for the six months, reflecting operational leverage gains.
Operating Income Up Operating income improved 37% for the quarter to $77.5M, showing strong margin expansion year-to-date.
Liquidity Position Strengthened Total liquidity increased significantly to $1.09B as of June 30, 2025, supported by new credit facilities.

Risk Factors

Commodity Price Volatility Risk Operations face exposure from fluctuating oil, NGL, and natural gas prices impacting revenue streams and costs.
Net Income Declines Net income attributable to Class A shareholders fell 35% for six months to $29.8M, despite revenue growth.
Trade Policy Uncertainty U.S. trade policies, tariffs on steel/aluminum, create uncertainty affecting construction costs and market demand.
Debt Interest Expense Rises Interest expense increased 11% to $112.2M for six months, driven by new borrowings and variable rates.

Outlook

Kings Landing Project Nearing Kings Landing Project expected completion in Q3 2025, enhancing cryogenic processing capacity to 2.4 Bcf/d.
Capital Structure Refinanced New $1.15B Term Loan and $1.60B Revolving Credit facilities established, maturing in 2028 and 2030.
Share Repurchase Expansion Board authorized $500.0M Class A stock repurchase program; $172.6M spent year-to-date as of August 6.
Assessing OBBBA Impact Currently assessing impacts of the new OBBBA legislation regarding depreciation and interest expense limitations.

Peer Comparison

Revenue (TTM)

Patterson-UTI Energy, Inc.PTEN
$4.84B
-8.0%
Patterson-UTI Energy, Inc.PTEN
$4.84B
-16.6%
Helmerich & Payne, Inc.HP
$3.43B
+25.9%

Gross Margin (Latest Quarter)

Cactus, Inc.WHD
53.2%
+14.2 pp
Cactus, Inc.WHD
53.2%
+14.2 pp
TORM plcTRMD
50.2%
-10.3 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
WHD$3.03B16.716.1%2.1%
WHD$3.03B16.716.1%2.1%
HP$2.61B-84.6-1.1%31.9%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4-Quarter Revenue CAGR
+2.5%
Moderate Growth
4-Quarter Net Income CAGR
-2.8%
Stable Profitability
Cash Flow Stability
100%
Strong Cash Flow Performance

Research & Insights

Reports
All Years

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 8, 2025|
    Revenue: $426.74M+18.7%
    |
    EPS: $0.38-29.6%
    Meet

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 8, 2025|
    Revenue: $443.26M+29.8%
    |
    EPS: $0.05-61.7%
    Miss

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 3, 2025|
    Revenue: $1.48B+18.0%
    |
    EPS: $1.03-85.5%
    Miss

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 8, 2024|
    Revenue: $396.36M+20.0%
    |
    EPS: $0.35+66.7%
    Miss

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 9, 2024|
    Revenue: $359.46M+21.4%
    |
    EPS: $0.54+31.7%
    Beat

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 9, 2024|
    Revenue: $341.39M+21.5%
    |
    EPS: $0.12-300.0%
    Miss

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 5, 2024|
    Revenue: $1.26B+3.5%
    |
    EPS: $7.12+381.1%
    Beat

  • Form 10-Q - Q3 2023

    Period End: Sep 30, 2023|Filed: Nov 9, 2023|
    Revenue: $330.30M+1.6%
    |
    EPS: $0.21-79.8%
    Miss