Kinetik Holdings Inc reports results for the quarter ended June 30 - Earnings Summary

• Kinetik Holdings Inc KNTK.N reported quarterly adjusted earnings of 33 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of 54 cents. The mean expectation of ten analysts for the quarter was for earnings of 25 cents per share. Wall Street expected results to range from 12 cents to 41 cents per share.

• Revenue rose 18.7% to $426.74 million from a year ago; analysts expected $430.09 million.

• Kinetik Holdings Inc's reported EPS for the quarter was 33 cents​.

• The company reported quarterly net income of $23.65 million.

• Kinetik Holdings Inc shares had fallen by 4.3% this quarter and lost 25.7% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 35.8% in the last three months.​

• In the last 30 days, four analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy," 6 "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 $54.00, about 23.1% above its last closing price of $41.54

This summary was machine generated from LSEG data August 6 at 10:47 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)