Kinetik Holdings Inc reports results for the quarter ended in January 1 - Earnings Summary

• Kinetik Holdings Inc KNTK.N reported quarterly adjusted earnings of 93 cents​​ per share for the quarter ended January 1, higher than the same quarter last year, when the company reported EPS of 21 cents. The mean expectation of eight analysts for the quarter was for earnings of 45 cents per share. Wall Street expected results to range from 20 cents to 78 cents per share.

• Revenue rose 20% to $396.36 million from a year ago; analysts expected $331.21 million.

• Kinetik Holdings Inc's reported EPS for the quarter was 43 cents​.

• The company reported quarterly net income of $25.76 million.

• Kinetik Holdings Inc shares had risen by 16.0% this quarter and gained 57.1% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 16.1% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy," 7 "hold" and no "sell" or "strong sell."

• The average consensus recommendation for the oil & gas transportation services peer group is also "buy"

Wall Street's median 12-month price target for Kinetik Holdings Inc is $47.00

This summary was machine generated from LSEG data November 7 at 02:56 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)