Kinder Morgan Misses Earnings Estimates
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Kinder Morgan Energy Partners(KMP Quote) reported on April 15, 2009 that its Q1 FY09 net income declined 23.9% to $266.80 million or $0.15 per share from $350.70 million or $0.63 per share in Q1 FY08. Net income attributable to KMP was $263.90 million compared to $346.70 million in the previous year's quarter. The latest quarterly results missed the consensus estimate of $0.33 per share.
Q1 FY09 revenue plunged 34.3% to $1.79 billion from $2.72 billion due to weak economic conditions, lower crude oil prices, and lower transportation volumes. ...
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