Kinetik Holdings Inc. (KNTK) Misses Q1 EPS by 55c
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Kinetik Reports First Quarter 2023 Financial and Operating Results
May 3, 2023 4:39 PM EDTGenerated first quarter net income of $4.3 million and Adjusted EBITDA1 of $187.5 million Kinetik is tracking at the higher-end of its 2023 Adjusted EBITDA1 Guidance range of $800 million to $860 million 2023 Capital Expenditures trending to the upper-end of the Companys Guidance range of $490 million to $540 million Completed transactions with a key customer to acquire additional midstream assets and accelerate drilling activity April gas processed volumes averaged 1.52 Bcf/d, representing a new Company record and an approximate 21% increase over equivalent fourth quarter 2022 volumes Active hedging program has materially reduced Kinetiks unhedged... More
