<span item_type="fundamental" item_id="1ed36c3d92dad1c8d9cc87dbd96a990e" counter_id="ST/US/KNTK" env="prod"></span><span item_type="announcement" item_id="645943596738875265" env="prod"></span><p>Revenue: As of FY2026 Q1, the actual value is USD 409.98 M, missing the estimate of USD 438.04 M.</p><p>EPS: As of FY2026 Q1, the actual value is USD -0.07, missing the estimate of USD 0.2068.</p><p>EBIT: As of FY2026 Q1, the actual value is USD 49.42 M.</p><p></p><h4>Net Income</h4><p>Kinetik Holdings Inc. reported a net loss including noncontrolling interest of - $5.1 million for the three months ended March 31, 2026, compared to a net income of $19.3 million for the same period in 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692787/000169278726000089/kntkex991pressreleaseq12026.htm"></span></p><h4>Total Operating Revenues</h4><p>Total operating revenues were $409.98 million for the first quarter of 2026, a decrease from $443.26 million in the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692787/000169278726000089/kntkex991pressreleaseq12026.htm"></span></p><h4>Operating Income</h4><p>Operating loss for the quarter was - $3.84 million, a significant decline from $19.28 million in the prior year period.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692787/000169278726000089/kntkex991pressreleaseq12026.htm"></span></p><h4>Adjusted EBITDA</h4><p>Kinetik Holdings Inc. delivered an Adjusted EBITDA of $251.2 million for the first quarter of 2026, slightly up from $250.02 million in the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692787/000169278726000089/kntkex991pressreleaseq12026.htm"></span> <strong>Midstream Logistics:</strong> Adjusted EBITDA was $178.92 million, marking a 12% increase year-over-year.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692787/000169278726000089/kntkex991pressreleaseq12026.htm"></span> <strong>Pipeline Transportation:</strong> Adjusted EBITDA was $77.98 million, representing a nearly 17% decrease year-over-year, primarily due to the divestiture of the company’s equity interest in EPIC Crude.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692787/000169278726000089/kntkex991pressreleaseq12026.htm"></span> <strong>Corporate and Other:</strong> Adjusted EBITDA was - $5.70 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692787/000169278726000089/kntkex991pressreleaseq12026.htm"></span></p><h4>Cash Flow</h4><ul><li><strong>Distributable Cash Flow:</strong> $180.83 million, an increase from $156.98 million in the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692787/000169278726000089/kntkex991pressreleaseq12026.htm"></span></li><li><strong>Free Cash Flow:</strong> $101.38 million, up from $91.37 million in the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692787/000169278726000089/kntkex991pressreleaseq12026.htm"></span></li><li><strong>Net cash provided by operating activities:</strong> $185.14 million for the first quarter of 2026, compared to $176.83 million in the same period of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692787/000169278726000089/kntkex991pressreleaseq12026.htm"></span></li></ul><h4>Capital Expenditures</h4><p>Capital Expenditures for the quarter ended March 31, 2026, were $91.33 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692787/000169278726000089/kntkex991pressreleaseq12026.htm"></span></p><h4>Debt and Liquidity</h4><ul><li><strong>Net Debt:</strong> $3,854.38 million as of March 31, 2026, compared to $3,814.25 million as of December 31, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692787/000169278726000089/kntkex991pressreleaseq12026.htm"></span></li><li><strong>Liquidity (Cash and Revolver Availability):</strong> $1,120.12 million as of March 31, 2026.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692787/000169278726000089/kntkex991pressreleaseq12026.htm"></span></li><li><strong>Leverage Ratio:</strong> 3.9x as of March 31, 2026.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692787/000169278726000089/kntkex991pressreleaseq12026.htm"></span></li><li><strong>Net Debt to Adjusted EBITDA Ratio:</strong> 3.9x as of March 31, 2026.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692787/000169278726000089/kntkex991pressreleaseq12026.htm"></span></li></ul><h4>Operational Metrics</h4><ul><li><strong>Midstream Logistics Processed Natural Gas Volumes:</strong> 1.81 Bcf/d, a 1% increase year-over-year, despite an estimated 170 Mmcf/d of Waha price-related processed gas volume shut-ins.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692787/000169278726000089/kntkex991pressreleaseq12026.htm"></span></li></ul><h4>Outlook / Guidance</h4><p>Kinetik Holdings Inc. affirmed its full-year 2026 Adjusted EBITDA guidance to be between $950 million and $1,050 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692787/000169278726000089/kntkex991pressreleaseq12026.htm"></span> The company is also maintaining its 2026 Capital Expenditures guidance (including maintenance) of $450 million to $510 million for the full year.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692787/000169278726000089/kntkex991pressreleaseq12026.htm"></span> Year-over-year processed gas volume is now estimated to grow low- to mid-single-digit percentage points, with estimated curtailments of approximately 220 Mmcf/d, up from original assumptions of 100 Mmcf/d.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692787/000169278726000089/kntkex991pressreleaseq12026.htm"></span></p>

Kinetik | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 409.98 M