Kinetik Holdings Inc

KNTK: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$99.00	Smvp	Hzvlqnmtl

Kinetik Earnings: Debt Metrics Continue to Improve as Network Matures

Stephen Ellis ,

May 9, 2024

No-moat rated Kinetik posted a surprise substantial miss on earnings per share per FactSet consensus driven by higher operation expenses and weather-driven outages. Even so, our fair value estimate remains unchanged at $39 as the pathway for the firm is clearer than ever with all major expansion projects now online and 50% of the year's capital plan deployed.

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