April 22 (Reuters) - U.S. pipeline operator Kinder Morgan beat Wall Street expectations for first-quarter profit on Wednesday, helped by higher volumes of natural gas transported through its pipelines.
The Houston, Texas-based firm posted an adjusted profit of 48 cents per share for the three months ended March 31, compared with analysts' estimate of 40 cents per share, according to data compiled by LSEG.
(Reporting by Varun Sahay in Bengaluru; Editing by Vijay Kishore)
Kinder Morgan, Inc. specializes in transporting and storing oil and gas. Net sales (including intragroup) break down by activity as follows:
- transport, processing and storage of natural gas (64.9%);
- transportation and storage of petroleum products, dry and liquid bulk services (15.8%): fuel, coal, petroleum coke, cement, alumina, salt, chemical products, etc.;
- transport of refined oil products (12.4%): gasoline, diesel, liquefied natural gas (LNG), etc.;
- transport and sale of carbon dioxide (6.9%). The group also develops crude oil production activity in the Permian Basin in West Texas.
The United States account for 99.9% of net sales.
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